Covid-19 second wave: Digital payments drop as state impose curbs

UPI saw a 4.3 per cent dip in transaction volume and a 2.22 per cent dip in transaction value

Retail digital payments saw a dip in April, after the rise in Covid infections resulted in lockdown-like situations in many parts of the country. Unified Payments Interface (UPI), the flagship payments platform of the National Payments Corporation of India (NPCI), saw a 4.3 per cent dip in transaction volume and a 2.22 per cent dip in transaction value.
 
Similarly, Immediate Payment Service (IMPS) saw an 11 per cent drop in transaction volume and an 8 per cent drop in transaction value. Due to localised lockdowns, FASTag also witnessed a 15 per cent drop in transactions volume and a 10