UPI captured a record 77.3% of person-to-merchant transactions in July, steadily outpacing debit and credit cards, which continue to lose market share in India.

MUMBAI: India's digital merchant payments market grew 19.6% year-on-year to Rs 11.7 lakh crore in July, but the more consequential change was in how that money moved: UPI's share…

UPI now dominates India's digital merchant payments, capturing a significant market share. Credit and debit cards are steadily losing their previous positions in this sector. The…