UPI payments to merchants have been steadily increasing. An ET analysis shows peer-to-merchant transactions accounted for 25% of total UPI transactions in value terms and almost 60% in volume in the July-September quarter. Unified Payments Interface (UPI) last month crossed the 11-billion transaction mark, registering an increase of more than a billion transactions since 9.9 billion recorded in July...0.
https://economictimes.indiatimes.com/epaper/delhicapital/2023/nov/06/et-corp/how-is-india-using-upi-and-where/articleshow/104995513.cms
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