‘Shared costs, targeted sops key to UPI, RuPay expansion’

THE LONG-TERM SUCCESS of UPI and RuPay cards depends on building a balanced ecosystem that supports all stakeholders and shares infrastructure costs to expand adoption and ensure inclusive, sustainable growth in digital payments, according to a study backed by the Department of Financial Services.

- FE BUREAU

The study recommends introducing tiered cashback programmes for RuPay transactions in Tier 2-6 cities, enabling contactless RuPay cards and improving international acceptance through global partnerships.

It also calls for promoting small-ticket payments through tools such as UPI Lite in everyday settings including public transport, quick-service restaurants and local retail. Incentives should encourage frequent routine transactions rather than only high-value usage.