02
Oct
Unified Payments Interface (UPI) transactions fell by 1.8 per cent in September relative to August, moving from 2,450 crore transactions to 2,407 crore as per RBI data released on Thursday, October 1, amid market speculations that usage could decline following the October 15 rollout of a proposed 0.4 per cent merchant discount rate (MDR) on specific payments above Rs 2,000. In tandem with the volume drop, the total value of transactions processed through the NPCI-developed platform fell by 1.50 per cent to Rs 29.37 lakh crore in September from Rs 29.82 lakh crore a month prior, arriving right ahead of…
