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UPI payments surge in Oct led by groceries, dining; financial services lead in value
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Merchant payment volumes on the Unified Payments Interface (UPI) surged in October, led by high-frequency retail categories such as groceries, fast food, restaurants, and telecom. Financial services had the largest share by value, according to data from the National Payments Corporation of India (NPCI).
The festive month saw 13.03 billion merchant transactions worth Rs 8.26 lakh crore, as UPI maintained its dominance in consumer spending across both offline and online channels.
The groceries and supermarkets category was the biggest volume driver,…
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