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According to a report, in the four months from April to July, Unified Interface has set a new record by processing the maximum number of transactions as compared to other alternative payment methods in the world. The main reason for this is the use of UPI in more and more countries of the world. Now, what Reserve Bank of India Governor Shaktikanta Das has said is even better for UPI. RBI Governor has said that UPI is going to be launched in more countries of the world. Let us also tell you what kind of information RBI Governor Shaktikanta Das has given.

Discussions are going on with other countries

Reserve Bank of India Governor Shaktikanta Das said he hopes that the Unified Payments Interface (UPI) will expand to many more countries. Das, who is on a five-day visit to the state, said UPI is already present in many countries through QR code and fast payment system and discussions are going on with many other countries. He told reporters that we hope that it will grow further globally and reach internationally in future. Das said at an event in Mumbai on Wednesday that significant progress has already been made in this direction with Bhutan, Nepal, Sri Lanka, Singapore, UAE, Mauritius, Namibia, Peru, France and some other countries. He said that these efforts reflect the positive attitude towards adopting India's initiatives around the world.

UPI is number 1 at global level

1. UPI processed transactions worth Rs 80.8 lakh crore or $964 billion in April-July 2024.
2. These figures are 37 percent higher year-on-year compared to the same period last year.
3. UPI processed an astonishing 3729.1 transactions per second in 2023 with 117.6 billion transactions on the platform.
4. The special thing is that these figures are the highest compared to other countries in the world. In terms of transaction numbers, UPI has surpassed China's Alipay, Paypal and Brazil's PIX.
5. India conducted 3729.1 transactions per second in the year 2023, which is 58 percent more than the 2348 transactions per second registered in 2022.
6. The value of transactions done on the UPI platform during the year 2023 was $2.19 trillion.
7. In July this year, the total transactions on UPI stood at Rs 20.64 lakh crore or approximately $247 billion.
8. The special thing is that this is the highest ever transaction achieved by the platform in a month.
9. The value of processed transactions has now remained above Rs 20 lakh crore for three consecutive months.

Status of APMs in the rest of the world

According to the data, Skrill, a digital wallet used in more than 100 countries, ranks second in the number of APM transactions in the world with 49 billion transactions or 1553.8 transactions per second in 2023. On the other hand, Brazil's APM PIX, a real-time payment system similar to UPI, ranked third with 42 billion transactions or 1331.8 transactions per second in 2023. Apart from this, China's popular digital wallet Alipay came in fourth with 36.5 billion transactions or 1157.4 transactions per second.