In September, the Unified Payments Interface (UPI) recorded a total of 10.56 billion transactions. This marked a slight decrease compared to the preceding month when UPI achieved a significant milestone by surpassing 10 billion transactions with 10.58 billion in August. The UPI is an instant payment system that has gained immense popularity in India for its efficiency and ease of use, facilitating seamless digital transactions across the country.
In September, the Unified Payments Interface (UPI) processed a total fund settlement value of Rs 15.80 lakh crore, which showed a slight increase compared to the Rs 15.76 lakh crore settled in August.
The Unified Payments Interface (UPI) is a groundbreaking digital payment system in India, managed by the National Payments Corporation of India (NPCI). UPI has revolutionized the way financial transactions are conducted in the country, offering a seamless and instant payment mechanism. It enables users to transfer funds, pay bills, make purchases, and even invest, all with just a few taps on their smartphones. With its widespread adoption and user-friendly features, UPI has played a pivotal role in India's shift towards a cashless economy, making it a vital component of the nation's digital financial infrastructure.