South India State News

Bengaluru Vendors Ditch UPI, Return to Cash

By BPN News Desk July 16, 2025

In Bengaluru, several small traders, food vendors, and street shopkeepers have stopped accepting UPI payments and switched back to cash-only transactions. The shift follows a wave of GST notices sent to unregistered vendors whose UPI transactions crossed prescribed turnover thresholds. Many vendors fear that digital payment records are being used by tax authorities to

Business Finance

India Tops Fastest Digital Payments List with UPI

By BPN News Desk July 11, 2025

India has emerged as the world’s fastest digital payments market, largely driven by the widespread use of the Unified Payments Interface (UPI). According to recent global financial assessments, India now records over 18 billion UPI transactions every month, making it the largest real-time retail payments system globally by volume. Cash and Card Use on the […]

Finance

UPI’s Remarkable Growth in India’s Digital Payments

By Editor - News Desk January 28, 2025

Since its inception in 2016, the Unified Payments Interface (UPI) has revolutionized India’s digital payment ecosystem, experiencing exponential growth over the past five years. In 2019, UPI accounted for 34% of the country’s digital transactions; by 2024, this figure had surged to an impressive 83%. In 2024 alone, India recorded 208.5 billion digital payment

Finance

India’s Digital Payment Strategy Challenges Visa and Mastercard

By Editor - News Desk January 10, 2025

India’s digital payment landscape is undergoing a significant transformation, with indigenous platforms like the Unified Payments Interface (UPI) and RuPay gaining prominence. This shift is impacting the market share of global payment giants Visa and Mastercard. Rise of UPI and RuPay UPI, launched in 2016, has become a dominant force in India’s digital payments