September records 3,65 billion UPI transactions worth Rs 6.54 trillion
- ByManjeet Singh | October 1, 2021
NPCI’s Unified Payments Interface (UPI) platform logged an all-time high in volume and value in September with 3.65 billion transactions worth Rs 6.5 trillion. More than 3 billion transactions have also been processed on the platform for the third consecutive month, marking the wider adoption of digital payments in the country following the Coronavirus pandemic (Covid-19).
The volume and value of UPI transactions rose 3.5% and 2.35%, respectively, on a month-over-month basis. The volume and value of digital payments have doubled compared to last year, which indicates a rapid uptick in retail digital payments in the past few months.
UPI processed 3.55 billion transactions worth Rs 6.39 trillion in August and 3.24 billion worth Rs 6.06 trillion in July.
As the festive season progresses, UPI transactions may continue to grow in October and November. UPI transactions may number 40-42 billion and reach 22 billion this year, according to NPCI CEO Dilip Asbe. UPI has so far processed 25.73 billion transactions, worth nearly Rs 50 trillion, in the calendar year.
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