Autos to tea stalls: UPI makes inroads

11 Dec 2019 News : Autos to tea stalls: UPI makes inroads Read more at: //https://lnkd.in/fuXjCQH ================ Extract : As Indians get more comfortable with unified payment interface (UPI) — the home grown app-based accountto-account payments platform — they are now using it to pay for a Rs 7-cutting chai or a Rs 15-bun-maska. As a result, the average ticket size of UPI transactions has more than halved from Rs 3,902 in FY17 to Rs 1,751 in FY20 till date. While the ticket size is getting smaller the frequency of use is increasing. This is reflected in monthly transactions, which were over 120 crore and worth Rs 1.89 lakh crore in November 2019 ================ This is good news . But still 85 % of all purchase transactions are still getting made, using CASH ! The only - and quick - way to get these down to 15 % ( - as in most countries using digital payments ) , is to implement : Simplicity : The Ultimate Mobile Wallet ? [ 13 Feb 2017 ] https://lnkd.in/fTTjj-P