The volume of UPI transactions is further expected to fall in AprilAfter almost 12 months of continuous growth, the government’s unified payments interface (UPI) has seen a 6% decline in transactions in March 2020.

The number of UPI transactions may take a major hit in April 2020 considering the lockdown effects and the new rules of P2P charges.

After availing the 20 free transactions, users will have to pay INR 2.5 for transactions under or equal to INR 1000, and INR 5 for transactions above INR 1000.

At present, neither banks nor platforms charge users for UPI transactions in a bid to keep demand high.

As lockdown continues to run till April 14, with speculation of it being extended considering the jump in positive cases, how UPI payments survive this period remains to be seen. | To read full story, visit https://startuparound.com/read/1585756818.8336196/UPI-Payments-Take-A-Hit-In-March-As-Lockdown-Slows-Growth?ref=audio_experience