Big moment for UPI: 5 billion transactions in March, $1 trillion transactions in FY22

Unified Interface Payments (UPI) is enjoying a watershed moment as the payment platform has achieved a record milestone of 5 billion transactions in the month of March.

As per data from the National Payments Corporation of India (NPCI), the 6-year-old platform saw transactions worth Rs 8.88 lakh crore in March, which is a 7.5% jump from the previous month. The payments mode has broken multiple records in the past two years and is now inching closer to Rs 9 lakh crore in monthly transaction values.

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But that is not all, for the fiscal year gone by April-March, UPI registered transactions over $1 trillion or approximately Rs 75.82 lakh crore.

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