Unified Funds Interface (UPI) has quickly grow to be ubiquitous with its availability throughout platforms, and handy and user-friendly interface. A latest research by new-age lender NeoGrowth exhibits a shifting development amongst small-level retailers as nicely, with 72% preferring UPI transactions and solely 30% choosing money or cheque.
Nonetheless, the digi-lender’s knowledge, shared completely with Mint, additionally discovered that the development is uneven, with adoption seeing a drop in Delhi and Mumbai prior to now three years (the survey occurred in October-December in 2019 and 2022). Web points and failed transactions had been the highest hindrance for retailers within the micro, small and medium enterprises (MSME) sector.
As UPI continues to achieve recognition, Mint examines the development:
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Supply: Live Mint