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Online Payments

UPI transactions value exceeds INR 1 tln

Thursday 3 January 2019 | 08:53 AM CET

Transactions via the unified payments interface (UPI) have exceeded INR 1 trillion in December 2018, according to the data released by the NPCI.

The value of UPI transactions in December 2018 increased with 25% compared to November 2018. The volume of UPI transactions for December 2018 stood at 620 million, a growth of 18% over November 2018, when the volume stood at 525 million.

According to the Reserve Bank of India (RBI), card transactions in October 2018 increased by 9% to 1.4 trillion and 12% rise in value to over INR 4 trillion.

UPI has seen a constant growth throughout 2018, with volume growing four times and value growing seven times in December 2018 over December 2017.

In addition, the government’s UPI app, Bharat Interface for Money (BHIM), saw transaction volume of 17.35 million and value of INR 7,981.82 crore in December 2018. 

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