The story of UPI becoming India’s default payment method is one of acculturing tremendously diverse groups of Indians to digital payments using a seamless, safe and intuitive user interface. UPI has emerged as a practical and accessible payments solution for low-income customers who are possibly new to digital finance. Nearly three in four UPI transactions are of a value below Rs 500 and the average UPI transaction is around Rs 1,500. No other digital payment method can boast of volumes in this ticket size range – the average credit card transaction is three times larger. Clearly, UPI has secured a strong foothold among the financial practices of low-income users.
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