UPI Gets Its Festive Boost With 1.15 Billion Transactions In October


Ending the festive season rush with a bang, the National Payments Corporation of India (NPCI), on Friday, said that unified payments interface (UPI) transactions have reached a 1.15 billion mark for October 2019.

In a tweet, NPCI said that UPI recorded 1.15 Bn transactions worth INR 1,913,600 Cr ($27 Bn), against 955.02 Mn transactions worth INR 1,61,456.56 Cr in September 2019. This is also interesting as it is a huge improvement in the monthly growth of UPI transactions. While UPI transactions grew barely 4% in September, they have grown almost 20% in October.

Some of the other performance figures of digital payments by NPCI are:

Aadhar-enabled Point of Sale (AePS) recorded 218.04 Mn transactions worth INR 10823.12 Cr
National Electronic Toll Collection (NETC) clocked in 31.46 Mn transactions worth INR 702.86 Cr
Immediate Payment Service (IMPS) recorded 236.93 million transactions worth ₹212660.4 Cr.

In a media statement, NPCI chief Dilip Asbe said, “Our focus will always remain on enhancing acceptance infrastructure for digital payments so as to encourage customers towards digital transactions to achieve RBI and government’s less cash objective and facilitate faster adoption of UPI.”

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