UPI volumes rise 4% MoM to 23.66 billion transactions in July
UPI payment value reached ₹29.88 lakh crore, up 3% from June. The Centre is reportedly reconsidering MDR on UPI payments above ₹2,000 for larger merchants, a move that could reshape payment acceptance economics.
India’s UPI transactions rose 4% month-on-month to 23.66 billion in July, with value reaching ₹29.88 lakh crore. The Centre is reconsidering MDR for larger merchants, while PhonePe and Google Pay remain dominant despite share gains by smaller payment apps.
Why this matters
No related recent NPCI/UPI signals are available; July's volume and value growth highlights continued scale expansion as potential MDR changes could alter merchant payment acceptance economics.
Omni-channel is accelerating, up 190500% QoQ.
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