<p>New Delhi: UPI transactions in January surpassed 16.99 billion and the value exceeded Rs 23.48 lakh crore, marking the highest number recorded in any month, the Finance Ministry said on Thursday.</p>.<p>For 2023-24, the digital payments landscape has demonstrated remarkable expansion, the finance ministry said in a statement.</p>.<p>Unified Payments Interface (UPI) remains the cornerstone of India's digital payment ecosystem, contributing to 80 per cent of the retail payments across the country, it said.</p>.Sebi mulls safe UPI payment mechanism for registered market intermediaries.<p>The total transaction volume exceeded 131 billion and the value exceeded Rs 200 lakh crore for the 2023-24.</p>.<p>Its ease of use, combined with a growing network of participating banks and fintech platforms, has made UPI the preferred mode of real-time payments for millions of users across the country, it said.</p>.<p>As of January, 2025, over 80 UPI Apps , 641 banks are currently live on UPI ecosystem, it said.</p>.<p>In FY 24-25 (till Jan, 2025), the People to Merchant (P2M) transactions contributed 62.35 per cent and P2P transactions contributed 37.65 per cent of the overall UPI volume, it said.</p>.<p>The contribution of P2M transactions reached 62.35 per cent in January, 2025 where 86 per cent of these transactions are up to a value of Rs 500, it said, adding, this indicates the trust that UPI enjoys among citizens for making low value payments.</p>
<p>New Delhi: UPI transactions in January surpassed 16.99 billion and the value exceeded Rs 23.48 lakh crore, marking the highest number recorded in any month, the Finance Ministry said on Thursday.</p>.<p>For 2023-24, the digital payments landscape has demonstrated remarkable expansion, the finance ministry said in a statement.</p>.<p>Unified Payments Interface (UPI) remains the cornerstone of India's digital payment ecosystem, contributing to 80 per cent of the retail payments across the country, it said.</p>.Sebi mulls safe UPI payment mechanism for registered market intermediaries.<p>The total transaction volume exceeded 131 billion and the value exceeded Rs 200 lakh crore for the 2023-24.</p>.<p>Its ease of use, combined with a growing network of participating banks and fintech platforms, has made UPI the preferred mode of real-time payments for millions of users across the country, it said.</p>.<p>As of January, 2025, over 80 UPI Apps , 641 banks are currently live on UPI ecosystem, it said.</p>.<p>In FY 24-25 (till Jan, 2025), the People to Merchant (P2M) transactions contributed 62.35 per cent and P2P transactions contributed 37.65 per cent of the overall UPI volume, it said.</p>.<p>The contribution of P2M transactions reached 62.35 per cent in January, 2025 where 86 per cent of these transactions are up to a value of Rs 500, it said, adding, this indicates the trust that UPI enjoys among citizens for making low value payments.</p>