Statsguru: Six charts explain the rise of UPI transaction volumes

Smaller transactions dominate the system. Nearly seven out of every 10 transactions initiated via UPI are for less than Rs 500

The recent uproar over potential charges for using the Unified Payment Interface (UPI) can perhaps be seen as a measure of its success.The recent Reserve Bank of India paper also examined charges for other instruments, such as credit and debit cards, which did not lead to a similar level of popular debate. The UPI platform has left these instruments far behind in enabling digital transactions, accounting for over 60 per cent of transactions in 2021-22 compared to less than 6 per cent in 2017-18. Card transactions have seen their use erode to a single-digit share over the same period (chart