As many as 2.3 billion transactions worth Rs 4.2 trillion were recorded through Unified Payment Interface in the month of January this year, NITI Aayog CEO Amitabh Kant said yesterday.
The Unified Payment Interface recorded 2.3 billion transactions worth Rs 4.3 trillion rupees in January 2021. On a Year-on-year basis, The Unified Payment Interface’s transaction value jumped 76.5 per cent; while transaction value jumped nearly 100 per cent. First one billion UPI transactions per month took 3 years to cross but the next billion had come in less than a year.
UPI is a common system that powers multiple bank accounts into a mobile application, merging several banking features, seamless fund routing and merchant payments.