Internet is a deterrent to UPI, survey finds
Unified Payments Interface (UPI) has quickly become ubiquitous due to its availability on all platforms and its convenient and user-friendly interface. A recent survey by new lender neogrowth shows a shifting trend among small retailers: 72% prefer UPI transactions and only 30% opt for cash or checks. However, the digital lender’s data, which was shared exclusively with Mint, also revealed that the trend is uneven, with adoption falling in Delhi and Mumbai over the past three years (the survey took place in October-December in 2019 and 2022). Internet problems and failed transactions were the biggest hurdle for micro, small and medium-sized enterprise (MSME) retailers. As UPI gains popularity, Mint examines the trend:
