UPI transactions grow fastest in six months, up 30% at 246 mn in June

Value of transactions rose 22% from Rs 332 bn to Rs 408 bn between May and June

India’s flagship digital payments system, the Unified Payments Interface continued to record strong growth in usage in the month of June as volumes rose by more than 30 per cent, showed data released by the National Payments Corporation of India (NPCI).

NPCI, a bank-owned private body which runs UPI, released numbers for the month of June on Monday and the data showed that transactions rose to 246 million in June as compared to 189 million in May, an increase of over 30 per cent. 

At the same time, the value of transactions on the UPI platform rose from Rs 332