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How UPI-enabled Credit Payments Have the Potential To Catalyse Domestic Consumption

October 6, 2022

India, in recent years, has witnessed few of the most transformative years in the digital payments industry. Today, 40 per cent of payments in the country are digital, due to rapid expansion in digital infrastructure, UPI-led migration to digital, pandemic-led acceleration of shift in customer preferences, and a growing merchant acceptance network.

Fintechs have also been imperative to agile, frugal inventions that have aided penetration to tier III-VI cities. Since its inception in 2016, UPI transactions through wallets and debit cards have been exponential.

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