The number of payments transacted on Unified Payments Interface (UPI) hit an all-time high of 149 crore (1.49 billion) in July this year, with the value of transactions reaching Rs 2.91 lakh crore, NPCI data showed.
The previous high was 134 crore (1.34 billion) transactions in the preceding month of June, while the value of transactions was Rs 2.61 lakh crore, as per the data from the National Payments Corporation of India (NPCI).
In July 2019, the number of UPI transactions stood at 82.23 crore, with a cumulative value of Rs 1.46 lakh crore.
During the April-July period of 2020-21, the cumulative transactions on UPI reached 631 crore. The value transacted stood at Rs 6.31 lakh crore.
In fiscal year 2019-20, the number of UPI transactions was 1,252 crore (12.52 billion), while the value of payments was Rs 21.32 lakh crore.
NPCI was incorporated in 2008 as an umbrella organisation for operating retail payments and settlement systems in India.
It facilitates payments through a bouquet of retail payment products such as RuPay Card, Immediate Payment Service (IMPS), UPI, Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC Fastag) and Bharat BillPay.
Deccan Herald is on WhatsApp Channels| Join now for Breaking News & Editor's Picks