UPI QR transactions jump 33% at retail stores this year: PayNearby

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The story "UPI QR transactions jump 33% at retail stores this year: PayNearby" was covered 16 hours ago by Business Standard, a news publisher based in India.

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UPI QR transactions jump 33% at retail stores this year: PayNearby - Business Standard

Quick Summary:

The report is based on an analysis of real transaction data derived from over 10,00,000 small retailers (kirana stores, mobile recharge stores etc) offering financial and digital services spread across India in rural and semi-urban regions.

UPI transactions at retail stores have increased by 33 per cent in semi-urban and rural areas this year, reflecting the growing adoption of digital payments, says a report.

Moreover, insurance policy purchases and premium collections saw a 127 per cent increase in transaction volume and a 96 per cent growth in new customer adoption during the year, the report by branchless banking and digital network PayNearby said.