MONEY
Facing rejection for UPI payment? You are not alone
57% of ~20,000 UPI users surveyed by LocalCircles said they faced instances where shops refused UPI and asked for cash in the past year.
Recent reports said GST audits based on UPI transactions were leading many small businesses to opt for cash instead.
However, despite this, UPI, which completes 10 years, has seen a record ~Rs 300 lakh crore worth of transactions in FY26.
What's in it for you?
- •KEEP CASH HANDY: You may need to keep some cash with you if more businesses and shops reject UPI payments.
- •PLAN FOR CASH: Many banks have tightened the number of free ATM transactions you can do in a month, with most keeping 5 free. So you have to plan for cash better if you want to avoid transaction fees during withdrawal.
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