UPI transactions soar to all-time high of INR 17.16 lakh crore in Oct

NEW DELHI — Unified Payment Interface (UPI) transactions soared to an all-time high of INR 17.16 lakh crore in October with a 9 per cent increase from INR 15.8 lakh crore in September this year, according to data.

In volume terms also the number of transactions touched a record 11.41 billion, up 8 per cent compared to 10.56 billion in September, the data compiled by the National Payments Corporation of India (NPCI), which runs the real-time payments platform, revealed.

Based on the latest numbers, UPI has recorded a 55 per cent year-on-year growth in terms of transaction volume and 42 per cent growth in terms of value, according to NPCI.

UPI registered a transaction volume of 10.56 billion in September and crossed the 10 billion mark in August.

“Over 11 Billion UPI transactions were done in October 2023! People are making seamless payments from mobile in real-time with UPI,” the Ministry of Electronics and IT posted on X.

Up, up, and growing!📈

Over 11 Billion UPI transactions were done in October 2023! People are making seamless payments from mobile in real-time with #UPI. #DigitalIndia #DigitalPayments #UPIChalega@upichalega @dilipasbe @NPCI_NPCI pic.twitter.com/dzh71P3uSA

— Ministry of Electronics & IT (@GoI_MeitY) November 1, 2023

Also read: Powered by government push, UPI transactions shot up to INR 83.2L crore in 2022