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Online Payments

UPI transactions' value surpasses cards

Monday 20 May 2019 | 09:30 AM CET

The Unified Payments Interface (UPI) has surpassed debit and credit cards in terms of transactions in January 2019.

The value of UPI transactions remained higher in the first three months of 2019, according to data by the National Payments Corporation of India (NPCI) and Reserve Bank of India (RBI).

UPI has seen growth between March 2018 and March 2019 with monthly transaction volumes growing 4.5 times to 799.54 million over the 2018.

In January 2019, the number of UPI transactions stood at INR 1.09 trillion, while transactions recorded by cards at registered INR 1.05 trillion. In February 2019, the number of UPI transactions stood at INR 1.07 trillion and the amount transacted through cards was INR 93,998 crore.

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