04 April 2024
UPI has become the preferred payment method, surpassing all other payment options. In the second half of 2023, transaction volume surged by 56%, reaching 65.77 billion from 42.09 billion in H2 2022. During the same period, the value of transactions increased by 44% from Rs 69.36 trillion to Rs 99.68 trillion.
According to the latest Worldline Digital Payments report, the average ticket size (ATS) has reduced by 8% from Rs 1648 in H2 2022 to Rs 1515 in H2 2023. This decrease in ATS suggests a deeper embedding of UPI, which is being used for smaller or micro-transactions. The dip is primarily driven by the growth in person-to-merchant (P2M) transactions, as compared to person-to-person (P2P) transactions.
UPI has become the preferred payment method, surpassing all other payment options. In the second half of 2023, transaction volume surged by 56%, reaching 65.77 billion from 42.09 billion in H2 2022. During the same period, the value of transactions increased by 44% from Rs 69.36 trillion to Rs 99.68 trillion.
According to the latest Worldline Digital Payments report, the average ticket size (ATS) has reduced by 8% from Rs 1648 in H2 2022 to Rs 1515 in H2 2023. This decrease in ATS suggests a deeper embedding of UPI, which is being used for smaller or micro-transactions. The dip is primarily driven by the growth in person-to-merchant (P2M) transactions, as compared to person-to-person (P2P) transactions.
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