UPI handled record 2.23 bn transactions, worth Rs 4 trn, in December

Payments system breached the 2-billion mark in volumes for the third time in December

Unified Payments Interface (UPI) handled 2.23 billion transactions worth Rs 4.16 trillion in December, a record both in terms of volume and value.

It breached the 2-billion mark for the third straight month, according to the National Payments Corporation of India (NPCI). In November, UPI had recorded 2.21 billion transactions worth Rs 3.90 trillion, and had clocked Rs 3.86 trillion of payments in October, which is when it had surpassed 2 billion transactions for the first time.

Launched in 2016, UPI crossed 1 billion transactions for the first time in October 2019. While it took UPI three years to reach a billion