Ahmedabad: In today’s new Digital India, online payment through UPI remains the choice of most customers. Transactions through the Unified Payments Interface grew for the tenth consecutive month in December to Rs. 20 lakh crore is being crossed. In the last month of the year through UPI Rs. Transactions worth Rs 23.25 lakh crore took place, which was 27.5 percent more than the month of November.
UPI payments have increased in December compared to November but the numbers are still lower than October due to the festive season including Diwali. UPI payments in October amount to Rs. 23.5 lakh crore.
However, the important thing is that the penetration of UPI has increased. UPI transactions reached record high in December. In volume terms, UPI online transactions in December grew 39 per cent year-on-year to Rs 1673 crore. However, this month’s growth was modest compared to the 40 per cent increase in the first seven months of this financial year.
Talking about daily volume, 54 crore transactions were done every day across the network of more than 600 banks and through UPI. Transactions worth Rs 74,990 crore took place. Value per transaction increased to Rs.200 per transaction in December quarter. It was Rs 1400 per transaction in the September quarter. It was 1393.
NPCI has also removed the restriction on adding new users to WhatsApp’s UPI product. Messaging app WhatsApp currently has 50 crore users in India. NPCI has directed to remove the limit of 10 crore users imposed on WhatsApp Pay in a phased manner.
