Digital Transactions through Unified Payments Interface

Explain the reasons behind Unified Payment Interface transactions have increased in India. Also, analyse its impact on Indian consumers. (250 Words)

Approach:

• Introduce by giving a definition of Unified Payment interface
• Enumerate the reasons behind increase in UPI transactions
• Enumerate the positive impact of UPI on consumers
• Enumerate the negative impact of UPI on Consumers
• Way forward and Conclusion