Over the past few years, the National Payments Corporation of India ( ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/npci” target=”_blank”>NPCI) has introduced multiple features—UPI Lite, wallet-based payments, ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/recurring-payments” target=”_blank”>recurring payments via UPI, ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/upi” target=”_blank”>UPI through ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/rupay-credit-cards” target=”_blank”>RuPay credit cards and ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/upi-circle” target=”_blank”>UPI Circle. These features are aimed at reducing banking system load for small transactions and enhancing network efficiency.
Yet, only recurring payments and credit cards on UPI have shown notable growth. The rest struggle to gain traction due to limited adoption.
“Across both wallet-based UPI payments and ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/upi-lite” target=”_blank”>UPI Lite, around 100 million transactions…
