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Mapping India's digital transactions: Cashless, but still card dependent

UPI transactions grew faster than credit or debit card transactions, but growth in average transaction size was still considerably lower than debit and credit card usage

Topics
digital transactions | UPI | Cashless

Ishaan Gera  |  New Delhi 



upi
Representative Image

In November 2016, when the government announced demonetisation, one of the objectives was to transition the country to a economy. In the absence of many alternatives, people graduated towards wallets. In December 2016, however, the government launched the unified payments interface (UPI), which linked bank accounts directly with .

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First Published: Sat, April 09 2022. 06:01 IST

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