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UPI closes 2018 on a high as volume jumps 39% in December

These transactions included players like PhonePe and Google Tez, along with the government's BHIM app

BS Reporter 

UPI, mobile payments, cash transfer
Photo: Shutterstock

The United Payments Interface (UPI) closed the year on a high, as the volume of transactions jumped 39% to 145.64 million in December. 

This was against 105.09 million transactions in November. The value of transactions in December also rose 36% to Rs 131.74 billion from Rs 96.79 billion in November, revealed a tweet from the (NPCI). The value per transaction continued to fall, which, combined with the rise in volume and value of transactions, point towards UPI’s growing popularity. 

These transactions included those done through apps of various banks as well as players like and Tez, along with the government’s Bharat Interface for Money (BHIM) app.

UPI, mobile payments, cash transfer

First Published: Tue, January 02 2018. 00:55 IST