India’s Unified Payments Interface (UPI) continued to deepen its reach in August, with transaction volumes hitting a fresh record even as the overall value of payments remained broadly flat, pointing to an increasingly high-frequency, low-ticket use of the digital payments platform

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.

Discover how UPI revolutionizes digital payments in India, enabling instant bank transactions through a complex, secure system.