MUMBAI: UPI transactions hit another record in July 2023 at 996 crore transactions, a 6% increase over 934 crore in June. The value of transactions too scaled a new peak, rising 4% to Rs 15.34 lakh crore from the June level.
The payments system is currently processing nearly 1 billion (100 crore) UPI transactions every three days. NPCI chief Dilip Asbe had said that the corporation was gearing up to handle volumes of a billion transactions every day within two to three years.
UPI transactions have risen by 58% in volume and 44% in value terms, on a year-on-year basis. According to payments industry experts, the next significant jump is expected in the third quarter when festivals bunch up and consumption peaks.
