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UPI Transactions Surge 8% to Hit Record 16.73 Billion in December: NPCI Data

• ByStartupStory     |    January 3, 2025

Unified Payments Interface (UPI) transactions reached a historic milestone of 16.73 billion in December 2024, marking an 8% increase compared to November’s 15.48 billion transactions, according to the latest data released by the National Payments Corporation of India (NPCI).

In value terms, the transactions totaled ₹23.25 lakh crore in December, up from ₹21.55 lakh crore in November. The average daily transaction count during the month was 539.68 million, a notable rise from November’s 516.07 million. Additionally, the average daily transaction value rose to ₹74,990 crore in December, compared to ₹71,840 crore the previous month.

NPCI highlighted the significance of the growth, with its statement noting, “The December transaction figures reaffirm the strong adoption of digital payments in the country, underlining the convenience and efficiency of UPI as a preferred mode of payment.”

Unified Payments Interface (UPI), managed by NPCI, is widely recognized for enabling real-time peer-to-peer and merchant transactions. NPCI operates under the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA), serving as an umbrella organization for retail payments and settlement systems across India.

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