UPI Transactions Shatter Records, Surpass 10 Billion Milestone In August

The National Payments Corporation of India (NPCI) has announced that Unified Payments Interface (UPI) transactions have crossed the 10 billion mark in August.

In a post on X, formerly known as Twitter, NPCI stated on Thursday, 'Drumroll, please! UPI has just shattered records with an astonishing 10 billion-plus transactions. Join us in celebrating this incredible milestone and the power of digital payments. Let's keep the momentum going and continue to revolutionize the way we make transactions with UPI!'

30th AUGUST 2023: DAILY PAYMENTS STATISTICS #BHIMUPI #IMPS #NETC pic.twitter.com/KQNtm8wx3v

— NPCI (@NPCI_NPCI) August 31, 2023

According to NPCI data, UPI transactions on August 30th totaled 10.24 billion, compared to 9.96 billion transactions recorded in July and 9.33 billion in June. In terms of value, monthly UPI transactions reached Rs 15,18,456.4 crore on August 30th, slightly lower than July's Rs 15,33,645.20 crore.

Also Read: India's UPI transaction hits record 9 billion transactions worth Rs 14 lakh crore in May

Remember, UPI (Unified Payment Interface) is an instant payment system that allows users to transfer money instantly to any bank account through mobile devices, around the clock. It was created by NPCI, an umbrella organization for all retail payment systems in India.