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UPI volume dips a tad in September; MDR to kick in in a fortnight

1 source · first seen 20:11 1 Oct · updated 20:11 1 Oct

The brief

Written from 1 report · check the source before you trade
  • UPI volume dipped slightly in September, ahead of MDR taking effect in a fortnight
  • The decline was partly due to September having one fewer day
  • MDR may affect payment economics for Indian fintech and payments companies

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92 stories this week
  1. 30 SeptUPI usage holds steady in September despite backlash over new MDR normsData · 2 sources · UPI averaged 802 million transactions a day in September, up about 1% from August
  2. 30 SeptAIMRA announces nationwide 'No UPI Day' on October 2 to protest against proposed MDR for UPI transactions2 sources · AIMRA plans a nationwide “No UPI Day” on October 2 to protest the proposed MDR
  3. 30 SeptApple Pay enters India with Axis Bank, targeting card usage and broader partnershipsExpansion · 2 sources · Axis Bank is Apple Pay’s first partner in India
  4. 29 SeptSitharaman discusses BIT, FTA, UPI expansion with Qatar during Doha visitPolicy · 2 sources · Qatar has a $10 billion investment commitment with India
  5. 29 SeptOnly 62 mn invest in MFs despite 500-550 mn UPI users in India: EY reportData · 1 source · Only 62 million invest in mutual funds, against 500–550 million UPI users in India
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Read the reports

1 report · earliest 20:11
Business LineUPI volume dips a tad in September; MDR to kick in in a fortnight20:11