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UPI Update Attracts More Users, August Volume up by 32%
September 19, 2018
UPI’s new update in the form of UPI 2.0 has seemingly shaken things up for the platform. This is evident through the number of transactions across the channel which increased by 32% from 235.65 million in July to 312.02 million in August. This is a big jump as the volume of transactions had actually declined by 4.35% in July.
UPI’s new update features facilities like overdraft which aims to increase merchant-to-peer transactions. Previously, the majority of transactions were peer-to-peer only.
Photo credit: Got Credit on Visual Hunt / CC BY
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