The average ticket size of transactions on Unified Payments Interface (UPI) dipped to Rs 1,478 in the first half of calendar year 2024 (H1CY24), compared to Rs 1,603 during the same time last year (H1CY23), as the adoption of the real-time payments service gains further ground.
A decreasing average ticket size of transactions on the payments system indicates that it is increasingly being used to conduct small-value transactions.
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In September, daily UPI transactions crossed 501 million, the highest ever since UPI became operational in 2016.
In comparison, the average ticket size of debit cards increased to Rs 2,830 in H1CY24 from Rs 2,302 in H1CY23. The average ticket size of transactions on credit cards was 3.5 times larger than that of a UPI transaction, according to a report from Worldline India.
It was pegged at Rs 5,190 in H1CY24, compared to Rs 4,992 in H1CY23.
In H1CY24, in-store merchant categories including grocery stores, restaurants, service stations, clothing stores, government services, pharmacies, and hospitals contributed a major chunk of transaction volumes and value.
These offline categories accounted for about 68 per cent and 53 per cent of transaction volumes and values, respectively.
In the digital ecosystem, e-commerce, gaming, utilities, government, and financial services were major drivers of transaction volumes and value.
First Published: Oct 10 2024 | 7:42 PM IST
