New Delhi: The Unified Payments Interface (UPI)-based transactions surged in the month of July. The value of UPI transactions crossed Rs 20.64 lakh crore. This for third month in a row that UPI transactions are crossing Rs 20 lakh crore. Previously, UPI transaction values totaled Rs 20.07 trillion in June and Rs 20.44 trillion in May. Data released by the National Payments Corporation of India (NPCI) showed this.
As per data, the value of UPI transactions have a surge of 35 per cent year on year basis. The transaction volume reported a 45 per cent year-on-year (Y-o-Y) growth. The total volume of UPI transactions is at 14.44 billion in July.
The average daily transaction count on UPI in July was 466 million, amounting to Rs 66,590 crore. Sequentially, the volume of UPI transactions grew by 3.95 per cent in July, while the value of transactions increased by 2.84 per cent during the same period.
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In the current financial year (FY25), UPI recorded 55.66 billion transactions worth Rs 80.79 trillion. In FY24, UPI surpassed 100 billion transactions for the first time, ending the year at 131 billion, compared to 84 billion in FY23.
As per the Reserve Bank of India (RBI) data, UPI has seen a tenfold increase in volume over the past four years, increasing from 12.5 billion transactions in 2019-20 to 131 billion transactions in 2023-24, which is 80 per cent of all digital payment volumes.
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