New Delhi, Nov 1 (KNN) During online checkouts Unified Payments Interface (UPI) are opted by about 76 per cent Indians, said a report on Tuesday.

While more millennials which is 84 per cent are now using UPI when shopping online.

As per the new research from financial services technology provider FIS, with convergence of the physical, digital and virtual worlds, Indians are willing to explore and purchase within apps/browsers as well from social media platforms.

Amounting to Rs 10.72 lakh crore the UPI in August saw 6.57 billion transactions.

While the volume of transactions rose 85 per cent and value 67.85 per cent year-on-year (YoY), as per the data by the National Payments Corporation of India (NPCI).

“Embedded finance has a great potential to transform customer payment experience offered by banks and financial institutions and drive new avenues of growth for partnering merchants,” said Harish Prasad, MD, Banking Solutions, India, FIS.

The report further said that although Indians reflect a readiness to embrace embedded financial services, brands need to ensure transparency and safety to win the trust of customers.   (KNN Bureau)