Number of UPI transactions up 6% at 1.2 bn in Nov; value falls marginally

While the number of UPI transactions during November rose to 1.22 billion from 1 billion in October, the combined value of these declined marginally to Rs 1.89 trillion from Rs 1.91 trillion

The number of Unified Payments Interface (UPI) transactions via real time has reached 1.22 billion in November, compared to 1 billion in September. However, the value of UPI transactions for November was Rs 1.89 trillion — this is lower than the Rs 1.91-trillion announced last month.

These transactions were 6.1 per cent higher than in October, and 132 per cent higher on a year-on-year basis, the National Payments Corporation of India (NPCI) data showed. Currently, 143 banks are live on UPI.

However, market players believe that the decline in value of transactions is not a cause for worry because October