The Unified Payments Interface (UPI) transactions rose 3.6% month-on-month to 14.96 Bn in August from 14.44 Bn in the previous month.
On a year-to-year basis, the transaction count surged 41%.
As per data released by the National Payments Corporation of India (NPCI), the total UPI transactions processed by UPI in August amounted to INR 20.61 Lakh Cr as against INR 20.64 Cr in July, a 0.14% drop.
However, on a year-to-year basis, UPI transactions volume jumped 31%.
This comes just days after Prime Minister Narendra Modi said that UPI is a “great example of India’s fintech success”, with the country accounting for more than half of global digital transactions.
It is pertinent to note that the total transactions processed by UPI surpassed 100 Bn last year.
(The story will be updated soon)
The post UPI Transactions Jump 3.6% MoM In August appeared first on Inc42 Media.
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