Mumbai: The value of transactions on the Unified Payments Interface (UPI) platform crossed Rs 17.4 trillion in November. UPI transactions rose 46.1% YoY in last month. It had risen nearly 42% YoY to Rs 17.2 trillion in October. Data shared by the National Payments Corporation of India (NPCI) revealed this.
The volume of transactions reduced by 1.5% to 11.24 billion, compared to a record high of 11.41 billion in October. The number of transactions were 10.56 billion in September, with a value of Rs 15.8 trillion. This was 54% higher in volume terms and 46% in value terms compared to the same month last year.
The Immediate Payment Service (IMPS) transaction volume was down by 4% to 472 million in November. It was at 493 million in October and 473 million in September. The value of IMPS transaction was marginally down to Rs 5.35 trillion in last month. It was at Rs 5.38 trillion in October. It was a growth of 2% in volume terms and 18% in value terms compared to November 2022. In September 2023, IMPS was seen at Rs 5.07 trillion in value.
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FASTag transactions in November increased marginally to 321 million in November. It was at 320 million in October. The value of FASTag transactions in November was at Rs 5,303 crore, down 4% from Rs 5,539 crore in October. In September 2023, this was 299 million and Rs 5,089 crore, respectively. This was a 12% rise in volume and 14% in value compared to November 2022.
In November, Aadhaar Enabled Payment System (AePS) was up by 10% at 110 million. It was at 100 million in October. In value terms too, this was up by 14% to Rs 29,640 crore in November, compared to Rs 25,973 crore in October. This is 15% up in volume and 14% up in value terms compared to the same month last year. In September 2023, this was 101 million and Rs 25,984 crore respectively.
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