{
  "id": 4126945,
  "title": "UPI bites deeper into payment cards’ market share",
  "url": "https://urgent.news/2026/08/29/upi-bites-deeper-into-payment-cards-market-share",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-29T06:27:19.000Z",
  "source": {
    "name": "The Economic Times",
    "slug": "the-economic-times",
    "url": "https://economictimes.indiatimes.com/industry/banking/finance/upis-market-share-expands-more-at-debit-credit-cards-expense/articleshow/133605714.cms"
  },
  "original_language": "en",
  "account": null,
  "summary": "UPI is rapidly gaining market share in India's digital merchant payments sector, accounting for 77.3% of person-to-merchant transactions in July, up from 74.9% a year earlier. This shift comes as the overall digital merchant payments market continues to expand, growing 19.6% year-on-year to ₹11.7 lakh crore in July. In contrast, credit and debit cards are losing ground, with their share of merchant payments falling to 17.7% in July, down from 19.8% a year earlier. The trend is also evident in the wider retail payments market, with UPI's share of retail payment transaction volumes rising from 73.6% in FY23 to 86.8% in the June quarter of FY27. The focus is now shifting from adoption to the sustainability of the UPI ecosystem, with potential changes to the Merchant Discount Rate framework allowing targeted charges on select higher-value merchant transactions.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}