NPCI hits 1 billion transaction mark in July

National Payments Corporation of India (NPCI) today said it achieved 1 billion transaction volume in July on the various payments systems it operates.

The transactions pertain to all types of payments handled by NPCI from cheque and ATM clearing to IMPS, UPI, BHIM, RuPay, POS, e-commerce and also Aadhaar-based payments. Currently, the NPCI operates 12 payment systems.

"It is a great achievement to join the leagues of reputed payment institutions which process billions of transactions every month globally," NPCI managing director and CEO A P Hota said in a statement here.

He said highest growth has been seen in the mobile payments and Aadhaar-based payments.

"The next logical target can be a billion transactions a day - may be in three years," Hota said.

The NPCI started its services in January 2010 with the monthly transaction volume of about 50 million.

Over the last 7 years of operations, transaction volumes on the NPCI platforms have grown approximately 20 times, the statement said.