Insufficient balance, wrong PIN top reasons for failed digital transactions

Only 1.7 per cent of transactions are declined due to technical reasons such as connectivity issues.

Nearly ten per cent of Indian digital transactions are declined monthly across four modes of payments, data from the country’s flagship payments processor show.

This includes Immediate Payments Service, Unified Payments Interface, transactions in automated teller machines (ATMs) passing through the National Financial Switch (NFS) network, and welfare scheme transfers under the Aadhaar-enabled Payments System (AePS) for the period August to November 2021.

About 7.6 per cent of digital transactions are declined due to business