UPI payments at record high in July, data shows

Along with social distancing and sanitising surfaces at every opportunity, contactless payment has become the norm during the coronavirus pandemic.

Data released by the National Payments Corporation of India (NCPI) show that Unified Payment Interface (UPI) payments recorded 1.5 billion transactions in July, the highest so far.

Transactions on UPI were around Rs 2.22 lakh crore in February. However, during the national lockdown the net worth of these transactions dipped to Rs 1.51 lakh crore in April.

Transaction volumes in March and April were down nearly 23 percent, compared to the pre-Covid months of January and February.