The deceleration is raising questions about whether the network can sustain its expansion into India's most underserved geographies.
The slowdown in UPI growth feels like a natural stage after years of rapid adoption. Many urban users already rely on it for daily payments, so the next phase depends on reaching places where digital habits are still forming. That is harder work!
The slowdown in UPI growth feels like a natural stage after years of rapid adoption. Many urban users already rely on it for daily payments, so the next phase depends on reaching places where digital habits are still forming. That is harder work!