New Delhi . The value of transactions through Unified Payment Interface (UPI) increased by 31 percent yearonyear to Rs 20.64 lakh crore in September. During this period, the number of transactions has also increased by 42 percent on annual basis to 15.04 billion.
This information was received from the data released by the National Payments Corporation of India (NPCI) on Tuesday.
Last month, there were 50.1 crore transactions per day on UPI. In August this figure was at 48.3 crores. During this period, average transactions worth Rs 68,800 crore took place on UPI every day. In August this figure stood at Rs 66,475 crore.
This is the fifth consecutive month when the value of monthly UPI transactions has been Rs 20 lakh crore.
In September, around 10 crore transactions were done through Aadhar Based Payment System (AEPS) and their value was Rs 24,143 crore.
Transactions worth Rs 5.65 lakh crore were made through Immediate Payment Service (IMPS) in September. It has seen an increase of 11 percent on annual basis. Last month, an average of 1.4 crore IMPS transactions took place per day and their average daily value was Rs 18,841 crore.
There were 31.8 crore transactions in Fastag in September. There has been an increase of 7 percent. During this period, Rs 5,620 crore has been collected in Fastag and there has been an increase of 10 percent on an annual basis.
According to industry experts, UPI data for September shows that digital transactions are increasing rapidly in the country.
Sunil Rongla, Senior Vice President, Head of Innovation, Strategy and Analytics, Worldline India, says that the best thing about these figures is that from July to September, the value of UPI transactions has remained above Rs 20.64 lakh crore, but the transactions The number has increased from 14.44 billion to 15.04 billion, which shows that more people are using UPI for small transactions than before.
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Image Credit: KhasKhabar.