Transactions Via UPI Cross 100 Billion Mark In 2023 - Eastern Mirror
Wednesday, February 21, 2024

Transactions via UPI cross 100 billion mark in 2023

By IANS Updated: Jan 03, 2024 6:01 pm
UPI India

NEW DELHI — Transactions via the Unified Payments Interface (UPI) platform surpassed the 100 billion mark in 2023, closing at around 118 billion, representing a 60 per cent growth compared to the 74 billion transactions recorded in 2022.

The total value of UPI transactions in 2023 stood at around INR 182 lakh crore, up by 44 per cent compared to INR 126 lakh crore in 2022, according to data shared by the National Payments Corporation of India (NPCI).

UPI recorded 12 billion transactions in December, totalling INR 18.23 lakh crore.

According to NPCI data, the number of UPI transactions daily in December exceeded 387 million.

Meanwhile, NPCI has announced the launch of “UPI for Secondary Market” from January 1 in its Beta phase for the equity cash segment.

The launch of ‘UPI for Secondary Market’ is set to commence next week with the collaborative support of key stakeholders, including clearing corporations, stock exchanges, depositories, stockbrokers, banks, and UPI app providers.

This functionality will be initially available for a limited set of pilot customers, as stated by NPCI. During this pilot phase, investors can block funds in their bank accounts, which will only be debited by the Clearing Corporations upon trade confirmation during settlement.

By IANS Updated: Jan 03, 2024 6:01:10 pm
Website Design and Website Development by TIS