Migrating low-ticket payments to UPI Lite key to easing system pressure

The Unified Payments Interface (UPI) ecosystem is looking at a strategy to migrate low-ticket transactions to UPI Lite as financial institutions such as banks and fintechs continue to operate at full capacity.

This comes as the industry looks to contain technical declines and transaction failures on UPI.

These declines, which were 8-10 per cent in 2016, have come down to less than 0.7 per cent in 2024, Dilip Asbe, managing director (MD) and chief executive officer (CEO), National Payments Corporation of India (NPCI), said.