.jpg)
As India's digital and less-cash journey gains steam, more and more people are not only purchasing their daily essentials via unified payments interface (UPI) mode of digital transactions but also costly home appliances, high-end gadgets and designer apparels, among other things.
The seamless digital journey via the UPI mode has also resulted in people overspending on stuff they actually may not need at times, experts said on Saturday.
The purchasing trend via UPI/QR code is due to the fact that digital transactions now take a jiffy to complete the purchase journey via smartphones.
According to a recent survey by IIIT Delhi, nearly 74 per cent of people in the country are ‘overspending’ as a result of using UPI and other digital payment methods.
"The convenience and ease of digital transactions through UPI, in comparison to cash, may indeed lead to lower awareness of spending, as transactions are seamless and reduce the tangible feel of money leaving one's possession," Prabhu Ram, Head, Industry Intelligence Group at market intelligence firm CMR, told IANS.
Latest data from the National Payments Corporation of India (NPCI) revealed that the number of Unified Payments Interface (UPI) transactions reached 1,330 crore in April. On a year-on-year basis, the UPI transaction count has increased by 50 per cent.
Last year, the UPI transactions increased by almost 60 per cent to reach a record 11,768 crore.
Ramesh Narasimhan, Chief Executive Officer-India, Worldline, said that UPI maintains its position as the uncontested frontrunner, buoyed by substantial expansion in mobile transactions.
"This trend underscores users' growing confidence and familiarity with smartphone-based payment methods," Narasimhan added.
The average ticket size (ATS) of UPI transactions has also declined by 8 per cent from Rs 1,648 to Rs 1,515.
According to experts, consumer spending in India is soaring, with people splurging on cars, smartphones, TVs and other items, boosting the country's economic growth.
However, the trend has also seen people overspending on certain high-priced items, thanks to UPI.
A recent report by Nielsen Media India, on behalf of Amazon India, showed that digital payment methods are on the rise in the country, with 42 per cent of consumers saying they will choose UPI for online festive shopping.
.jpg&description=UPI payments see surge in India, leading people to overspending too: Experts){kind=link}
CWG 2026: Preeti, Jaismine, Sakshi, Sachin win as India rule boxing ring with seven gold
Indian boxing scripted history at the Commonwealth Games 2026 in Glasgow on Saturday by bagging seven gold medals — the highest-ever gold haul for the country in the competition.
Five NE states record below-normal monsoon rainfall in June-July despite widespread floods
Even as several Northeastern states were battered by heavy rains, floods and landslides during July, five of the region's eight states recorded below-normal monsoon rainfall so far due to weak rain-bearing systems over the Bay of Bengal, the absence of active monsoon troughs and the influence of El Nino, India Meteorological Department (IMD) officials said on Saturday.
Blood donation movement witnessing a renaissance in Tripura: CM
Chief Minister Prof. Dr. Manik Saha today said that there is currently a renaissance in the blood donation movement in the state. Along with creating a sense of spirituality through blood donation, a sweet bond is developed between the blood donor and the recipient.
Residents allege irregularities in Dharmanagar–Kailashahar road repair work, seek official inquiry
Allegations of irregularities have surfaced in the ongoing maintenance work on the Dharmanagar–Kailashahar road, with local residents claiming that the project is not being executed in accordance with the approved work order. They have urged the authorities to conduct a detailed investigation into the matter.
Sports Minister inspects construction of youth hostel in Kailashahar
Tripura Sports and Youth Affairs Minister Tinku Roy on Saturday inspected the ongoing construction of a 200-bed Youth Hostel at Ward No. 14 of the Kailashahar Municipal Council in Unakoti district. Senior officials of the concerned department accompanied the minister during the visit.
Infant found dead in well in North district
A pall of grief and shock has descended on North Gopalpur village in North Tripura district after the body of a 12-day-old baby girl was recovered from a well early on Saturday morning.
Ahmedabad to officially receive Commonwealth Games Flag, Host Baton at Glasgow closing ceremony
Ahmedabad's preparations to host the centenary edition of the Commonwealth Games will formally begin on Sunday when the city receives the Commonwealth Games flag and the Host Baton during the closing ceremony of the 2026 Commonwealth Games in Glasgow.
AGMC to be top medical, research centre in NE: Tripura CM
Tripura Chief Minister Manik Saha on Saturday said the state government is working relentlessly to transform the Agartala Government Medical College (AGMC) and Govind Ballabh Pant Hospital into one of the best medical education, research and super-speciality healthcare institutions in Northeast India, while strengthening the state’s overall healthcare ecosystem.