UPI payments surge in Oct led by groceries, dining; financial services lead in value

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Merchant payment volumes on the Unified Payments Interface (UPI) surged in October, led by high-frequency retail categories such as groceries, fast food, restaurants, and telecom. Financial services had the largest share by value, according to data from the National Payments Corporation of India (NPCI).

The festive month saw 13.03 billion merchant transactions worth Rs 8.26 lakh crore, as UPI maintained its dominance in consumer spending across both offline and online channels.

The groceries and supermarkets category was the biggest volume driver,…



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UPI payments surge in Oct led by groceries, dining; financial services lead in value



Merchant payment volumes on the Unified Payments Interface (UPI) surged in October, led by high-frequency retail categories such as groceries, fast food, restaurants, and telecom. Financial services had the largest share by value, according to data from the National Payments Corporation of India (NPCI).

The festive month saw 13.03 billion merchant transactions worth Rs 8.26 lakh crore, as UPI maintained its dominance in consumer spending across both offline and online channels.

The groceries and supermarkets category was the biggest volume driver,…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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