UPI scales new high in December; 2023 value up 59% at Rs 183 trn

Unified Payment Interface (UPI) transactions scaled a fresh peak in December by clocking Rs 18.23 trillion in value and 12.02 billion in volume, rising 5 per cent and 7 per cent in those terms from November.

UPI numbers in 2023 touched a new high with cumulative volume at 117.6 billion and value at Rs 183 trillion, up 59 per cent and 45 per cent compared to 2022.

The previous monthly peak in value was in November 2023 when 11.24 billion transactions worth Rs 17.4 trillion were made. UPI transactions in December grew 54 per cent in volume and 42 per cent in value compared to the same month in 2022.