UPI transactions hit all-time high of 1.49 billion in July: NPCI data

The number of payments transacted on Unified Payments Interface (UPI) hit an all-time high of 1.49 billion in July this year, with the value of transactions reaching Rs 2.91 trillion, NPCI data showed.

The previous high was 1.34 billion transactions in the preceding month of June, while the value of transactions was Rs 2.61 trillion, as per the data from the National Payments Corporation of India (NPCI).

In July 2019, the number of UPI transactions stood at 822.3 billion, with cumulative value of Rs 1.46 trillion.

During the April-July period of 2020-21, the cumulative transactions on UPI reached 6.31 billion. The value transacted stood at Rs 6.31 trillion.

In fiscal year 2019-20, the number of UPI transactions was 12.52 billion, while the value of payments was Rs 21.32 trillion.

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.