Despite a slight drop in November's transaction volume and value, UPI continues to grow at a robust pace, with impressive year-on-year growth and expanding international reach
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The transaction limit for UPI Lite has been raised, allowing users to complete transactions of up to Rs 1,000 without the need to enter a pin, an increase from the previous limit of Rs 500
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Person-to-person payments constituted the majority of the overall UPI transaction value
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This feature allows users to pay bills by scanning a ClickPay QR code with the familiar QR scanner on the Google Pay app, eliminating the need to remember bill account details or lengthy consumer IDs
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Paytm has been bullish on UPI and has formed partnerships with various banks and financial institutions including Axis Bank, HDFC Bank, State Bank of India (SBI), and YES Bank to enhance its LIPI service
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