Will UPI purchases become cheaper than using credit cards? Here's what we know

India's Unified Payments Interface (UPI) continues to dominate the digital payments landscape, and this is evident by the fact that UPI transaction volumes surged to 93.23 billion in the second half of 2024. According to data released by the National Payments Corporation of India (NPCI), this is a growth of 42 per cent year-on-year (YoY). Now, the government is reportedly working on plans that are likely to make usage of UPI cheaper than using credit cards. 

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