UPI usage dipped for the first time in March; that was followed by a fall of 20% in April.

3月，UPI使用量首次下降；4月份又下降了20%。

UPI will next step into the realm of lending. Seven " account aggregator" are preparing to launch (although covid-19 has delayed their roll-out).

UPI下一步将进入贷款领域。7个“账户聚集器“正等待推出（虽然covid-19疫情推迟了它们的推广）。

Before UPI was set up in 2016, cash reigned supreme. A large share of the population had no bank accounts, limiting card payments.

UPI成立于2016年，在此之前，现金是最重要的。很大一部分人没有银行账户，这限制了信用卡支付。

Their close relationships with users create high barriers to entry, putting new entrants at a disadvantage. By contrast, UPI is forbidden to charge merchants fees.

它们与用户的密切关系抬高了进入壁垒，使新进入者处于不利地位。相比之下，UPI禁止向商户收取费用。

Data for March suggest that the number of credit-card transactions fell further than that of digital payments, suggesting that UPI still gained market share.

3月份的数据显示，信用卡交易量的降幅超过了数字支付，这表明UPI的市场份额仍在增长。

But this is also where the drawbacks of UPI could become most apparent. Only a handful of transactions fail, but glitches have been known to occur.

但这也是UPI劣势最为明显的地方。只有少数交易失败，但已知会发生一些小故障。

The government has also used UPI to make emergency transfers to street vendors. A new programme is expected to be rolled out in June.

政府也在使用UPI向街头小贩进行紧急转账。一项新计划预计将于6月推出。