UPI transaction value touches new high at Rs 5 trn in March, volume up too

Launched in 2016, UPI crossed 1 billion transactions for the first time in October 2019.

Unified Payments Interface (UPI), the flagship payments platform of National Payments Corporation of India (NPCI), topped the Rs 5 trillion mark in value of transactions in March. It is nearing the 3 billion mark per month in transaction volume.

According to NPCI data for March, UPI recorded 2.73 billion transactions amounting to Rs 5.04 trillion, up 19 per cent in February both in terms of value and volume. In February, it had recorded around 2.3 billion transactions amounting to Rs 4.25 trillion. 

If compared to the same period last year, UPI’s volume and value have grown by 120 per cent