Statsguru: Six charts explain the UPI's emerging growth challenge

The uproar over charges for the Unified Payments Interface (UPI) may well reflect how ubiquitous it has become.

There are more than 7 billion transactions every month using the payment system — more than five transactions for every man, woman and child in the country. But challenges may now be beginning to emerge in maintaining its scorching pace of growth because of  a higher base and also other structural factors. Growth numbers have dropped below the triple-digit figures seen since the pandemic began (chart 1).

The value of monthly transactions has been in excess of the Rs 10-trillion