For the first time in the history UPI has recorded less than one billion transactions for the month of April. This is the first time in the past seven months that UPI volume went below the one billion mark. As per the data released by the National payments corporation of India (NPCI), UPI has registered 0.99 billion transactions.
It was anticipated that the nationwide lockdown to curb the spread of the Covid-19 pandemic would affect the digital payment volumes. However financially it was assured that digital payments will continue to grow to people as people opt digital transactions to avoid physical contact. During the initial days of the lockdown ,e-commerce, food tech, grocery as well as other online platforms were unable to operate but later the government had allowed essential services to continue.
Still, a majority of e-commerce services are still waiting for government orders. For this month, the government is likely to relax for e-commerce platforms and allow them to deliver non essential goods as well. Meanwhile , NPCI has tracked the onboarding system of UPI to make it totally contact less and safe for vendors, merchants and many more.
