Mumbai: The Unified Payments Interface (UPI) transaction hit a record high in July month. In the month of July, a total of 3.24 billion transactions were done. It is higher by 15% when compared to 2.8 billion transactions in June this year.
UPI registered 2.8 billion transactions worth Rs 5.47 trillion in June, up 10.6% in volume terms and 11.56% in value terms over May. In May, UPI processed 2.53 billion transactions, down 4.16% and 7.32% from April and March, respectively. In value terms, UPI saw transactions worth Rs 4.9 trillion, down 0.66% and 3% from April and March, respectively. In March, UPI had recorded a high of 2.73 billion transactions amounting to Rs 5.04 trillion.
As per the National Payments Corporation of India (NPCI), the total worth of the transaction is 6.06 trillion, up 10.76% from June. UPI launched in 2016 crossed 1 billion transactions for the first time in October 2019. It reached 2 billion in a year in October 2020. It crossed 3 billion transactions in the next 10 months.