UPI most preferred payment mode among consumers with 56% share: study

That said, cards are still dominating the merchant acceptance payments ecosystem, with 26% market share by volume, 53% by value

Unified Payments Interface (UPI) has emerged as the most preferred payment mode among consumers, with a person-to-merchant (P2M) market share of 56 per cent in volume terms in calendar year (CY) 21, according to a report by Wordline India. In value terms, UPI merchant transactions account for 41 per cent of the market share.

Having said that, cards are still dominating the merchant acceptance payments ecosystem, with 26 per cent market share in volume terms, and 53 per cent in value terms. Among cards, credit cards have 26 per cent and 8 per cent market share in value and volume