Retail payments through Aadhaar-linked BHIM mobile app see declining trend

In five months, the decline in terms of the number of transactions was about 30% and the fall in value about 31%

Retail payments through the Aadhaar-linked Bharat Interface for Money (BHIM) mobile app are declining more than two years after the government announced it.

According to the data from National Payments Corporation of India (NPCI), retail payments on the NPCI platform using BHIM, based on the Unified Payments Interface (UPI), declined from a peak of 18.27 million transactions, valued at Rs 82.06 billion in October 2018, to nearly 12.83 million transactions, valued at Rs 56.24 billion in February 2019.

Thus, in five months, the decline in terms of the number of transactions was about 30 per cent and the fall in value about