Upi new record: University Petroleum Corporation Limited i.e. UPI has set a new record. Yes, on August 2, more than 70.7 crore people have recorded transactions on this platform. In July, the amount of average transactions was 65 crore per day, but in early August, this number is increasing with payments like salary, bills and paying tenants. This achievement is considered very special, because the digital payment system in India with quint rapid is gaining popularity and objections on it are now decreasing.
Know what is upi
For your information, let us know, UPI is a real-time payment system that users are given the facility to send and receive money immediately from their smartphones. This is an app that can connect many bank accounts to the same mobile app and require only a mobile number or UPI ID for payment. There is no need to enter a card or bank details. It is powered by NPCI and is used through apps like Google Pay, PhonePe, Paytm, BHIM.
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Everyone is using it
It is also very important for you to know that the use of UPI is no longer limited to personal payments. Rather, now most of its transactions are to commercial payments, which is about 62 percent of the total UPI transactions. This shows that shopkeepers, businesses and online platforms are also using UPI fast.
The post UPI set a new record, in a single day the transaction figure was 70 crores appeared first on Latest.
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