The National Payments Corporation of India’s (NPCI's) flagship payment platform Unified Payments Interface (UPI) has logged more than 3 billion transactions for the second consecutive month in a row in August, signalling wider digital payment adoption.
In August, UPI logged 3.55 billion transactions, which is an all-time high in terms of the volume of transactions the payment platform has recorded since its launch. In value terms, UPI saw transactions worth Rs 6.39 trillion in August, which is again a record high. On a month-on-basis (MoM), UPI’s volume of transactions was up 9.5 per cent in August, and the value of transactions up 5.4 per cent.
In July, UPI processed 3.24 billion transactions, up 15.7 per cent from June, when it processed 2.8 billion transactions. In value terms, the platform processed transactions worth Rs 6.06 trillion in July, up 10.76 per cent from June.
Launched in 2016, UPI has
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