UPI transactions are increasing phenomenally. This blog is an attempt to view the wider canvas by adding ATM and POS transactions; analyzing and comparing the three.
UPI has seen a phenomenal growth in transactions since its launch in 2016. The potential to democratize digital payments is immense. However, some more work on awareness generation, and basics about the benefits and risks associated with digital payments can go a long way in increasing the use among low-income population and small merchants.