UPI, or Unified Payments Interface, is a success story that shows no sign of slowing down. India not only created this revolution but also spread it to various countries. Recently, France adopted UPI payments, and countries like Bhutan, UAE, Oman, the UK, and others followed suit.
Naturally, these numerous benefits have attracted a diverse user base, and more and more people are opting for it. According to the statistics, the payment method recently surpassed 10 billion transactions in a month, which is truly remarkable.
By the end of August, the interface recorded 10.24 billion payments for the first time in history, with a total transaction value of 15.18 lakh crores.
July came very close to the 10 billion mark, registering an impressive 9.96 billion transactions.
In the past month, there was an average of 330 million transactions every day, indicating a 5% growth from the previous month. It is also likely to surpass the transaction value of July in the remaining days.
NPCI has set a target to achieve 30 billion transactions a month in the next 2 to 3 years. While this target may seem ambitious, with festive months like October and November approaching, anything is possible.
