UPI Lite and wallet-based pay off to a slow start on zero-MDR bottleneck

New payment features like UPI Lite, UPI Circle, and wallet-based UPI payments are yet to gain traction as zero-MDR policy hampers fintech investments. In April, around 120 million UPI transactions were made through mobile wallets or prepaid payment instruments (PPIs) to settle transactions worth around Rs 4,000 crore, shows data sourced by ET.