Latest News

Record Breaking UPI Transactions in December, Check how many people used UPI


➡️ Click here to join our Whatsapp Group

Unified Payment Interface (UPI) transactions set a new record in December, reaching Rs 18.23 trillion in value and 12.02 billion in volume. This marks a 5% increase in value and a 7% increase in volume compared to November.

Impressive UPI Performance in 2023

In 2023, UPI transactions reached a new pinnacle, with cumulative volume hitting 117.6 billion and value soaring to Rs 183 trillion. This represents a substantial 59% increase in volume and a remarkable 45% increase in value compared to the figures recorded in 2022.

Notable November Milestone

The preceding monthly peak occurred in November 2023, with 11.24 billion transactions amounting to Rs 17.4 trillion. December witnessed a substantial growth of 54% in volume and 42% in value compared to the same period in 2022.

Historical UPI Data Points

In October 2023, UPI transactions reached a volume peak of 11.41 billion, according to data from the National Payments Corporation of India (NPCI). Earlier in 2023, UPI transactions achieved the 10-billion volume mark in August and the Rs 15 trillion value mark in July.

Performance of Immediate Payment Service (IMPS) in December

IMPS transactions demonstrated a 6% growth in volume, reaching 499 million in December compared to 472 million in November. In terms of value, December witnessed a 7% increase to Rs 5.7 trillion, up from Rs 5.35 trillion in November. Compared to December 2022, IMPS exhibited a 3% growth in volume and an impressive 17% growth in value.

FASTag Transactions and Growth

December saw 348 million FASTag transactions, an 8% increase from 321 million in November. The value of transactions in December rose by 11% to Rs 5,861 crore compared to Rs 5,303 crore in November. These figures represent a 13% increase in volume and a 19% increase in value compared to December 2022.

Aadhaar Enabled Payment System (AePS) Performance in December

Contrastingly, transactions at the Aadhaar Enabled Payment System (AePS) experienced a 14% decline in volume, totaling 95 million in December compared to 110 million in November. The value also decreased by 15%, amounting to Rs 25,162 crore, down from Rs 29,640 crore in November. October figures for AePS were at 100 million in volume and Rs 25,973 crore in value.

Leave a Reply

Your email address will not be published. Required fields are marked *