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Transactions have been growing on the Unified Payments Interface for some time now as more businesses and consumers go cashless. The system, launched about six years ago, has crossed an important point in its journey: the value of funds processed in a month is now consistently $100 billion.
The split: But UPI remains tilted towards one mode. Nearly 60% of the transactions are person-to-person ones and the rest merchant, according to the data shared by the National Payments Corporation of India, which manages UPI.
The value of merchant payments is currently 25% lower than that of P2P ones.
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