UPI transactions soar to all-time high of Rs 17.16 lakh crore in October

Unified Payment Interface (UPI) transactions soared to an all-time high of Rs 17.16 lakh crore in October with a 9 per cent improve from Rs 15.8 lakh crore in September this yr, in accordance to information.

In quantity phrases additionally the quantity of transactions touched a file 11.41 billion, up 8 per cent in contrast to 10.56 billion in September, the info compiled by the National Payments Corporation of India (NPCI), which runs the real-time funds platform, revealed.

Based on the most recent numbers, UPI has recorded a 55 per cent year-on-year development in phrases of transaction quantity and 42 per cent development in phrases of worth, in accordance to NPCI.

UPI registered a transaction quantity of 10.56 billion in September and crossed the ten billion mark in August.

“Over 11 Billion UPI transactions have been finished in October 2023! People are making seamless funds from cellular in real-time with UPI,” the Ministry of Electronics and IT posted on X.