UPI transactions at Rs 3.29 lakh crore in September

NEW DELHI: The Unified Payments Interface (UPI) transactions stood at Rs 3.29 lakh crore in September with number of transactions at 180 crore, NPCI data showed on Thursday.

The transactions were higher by over 10 per cent from Rs 2.98 lakh crore in August. Volume wise, it grew nearly 12 per cent month-on-month.

In the past few years, person-to-person and person-to-merchant money transfer have become simpler and safer due to BHIM UPI, the National Payments Corporation of India (NPCI) said in a tweet showing the monthly data transactions.

Among others, NPCI said the NETC FASTag has facilitated safe and contactless payments of tolls and parking charges, making essential travel during lockdown safe and non-stop with Rs 1,940.60 crore worth transactions at a volume of 11 crore.

In August, the transactions were of Rs 1,712.58 crore (9.68 crore in volume).

Through the IMPS (Immediate Payment Service) mode of payment, transactions in September rose to Rs 2.48 lakh crore from Rs 2.35 lakh crore in August. The number of transactions grew to 27.96 crore from 24.61 crore.

NPCI said the digital inclusion across the country is strengthening through Aadhaar-based biometric payments, AePS with transactions worth Rs 17,351.66 crore in September.

UPI transactions at Rs 3.29 lakh crore in September UPI transactions at Rs 3.29 lakh crore in September Reviewed by TechCO on 10/01/2020 Rating: 5

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