NPCI: UPI has given India a unique identity in the whole world. Many countries have also implemented this payment system in their countries. Indians have also started liking UPI. Nowadays people are using UPI through their phones for small transactions like vegetables, fruits and ration as well as for big payments. This is the reason why every month the figures of UPI transactions are making new records. National Payment Corporation of India (NPCI) has released the figures of UPI transactions on Saturday. This shows that a new record of UPI transactions has been made in the country. A total of 20.45 trillion rupees of UPI transactions have been done in the country in May.
14.04 billion UPI transactions took place during May
According to NPCI data, the UPI transaction figures in May 2024 have increased by 49 percent in terms of volume and 39 percent in terms of value as compared to the same month of 2023. A total of 14.04 billion UPI transactions were done during May. A total transaction of Rs 20.45 billion was done in these. There were 13.30 billion transactions in April 2024. A transaction of Rs 19.64 trillion was done in these. As compared to April, an increase of 6 percent in terms of volume and 4 percent in terms of value has been registered in May.
Crossed the highest figure since launch in April, 2016
UPI was launched in the country in April 2016. This is the biggest figure since then. During this period, IMPS transactions also grew by 1.45 percent and reached 55.8 crore transactions. Transactions worth Rs 6.06 trillion have been done through IMPS transactions. This figure has increased by 2.36 percent compared to Rs 5.92 trillion in April. In May, Fastag transactions also increased by 6 percent to 34.7 crore. Aadhaar-based payments AePS definitely declined by 4 percent during this period and reached 9 crore.
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