According to NPCI data released on Saturday, UPI transactions increased by more than 3% to 6.78 billion in September from a month prior. The total number of digital financial transactions based on the Unified Payment Interface (UPI) in August 2020 was 6.57 billion (657 crore). According to data from the National Payments Corporation of India (NPCI), there were 6.78 billion (678 crore) transactions last month, amounting to transactions worth Rs 11.16 lakh crore, up from Rs 10.73 lakh crore in August.
India handled 6.28 billion UPI transactions of Rs. 10.62 lakh crore in July. Due to its ease of use, speed, and security as a payment mechanism, UPI is quickly becoming a popular alternative among consumers. The instant inter-bank payments through IMPS, one of the payment methods covered by the NCPI, were 462.69 million (46.27 crore) in September, a small decrease from 466.91 million (46.69 crore) the month before. It was 460.83 million in July (46.03 crore). AePS transactions using Aadhaar numbers totaled 102.66 million in September, down from 105.65 million the previous month. There were 110.48 million AePS transactions in July.
(source : PTI)
