UPI transaction value up 4% in July; inches closer to 10 billion in volume
After a marginal dip in last month, transactions under the Unified Payment Interface (UPI) touched a new high of Rs 15.34 trillion in the month of July, up 4 per cent from Rs 14.75 trillion in June 2023. In terms of volume too, transactions saw a 7 per cent increase from 9.34 billion in June to 9.96 billion in July.
According to a data shared by the National Payments Corporation of India (NPCI), transaction volume increased by 58 per cent and value increased by 44 per cent compared to the same month last year. In July 2022, NPCI processed 6.3 billion transactions in volume terms with a value of Rs 10.63 trillion. On the other hand, May 2023 saw transactions worth Rs 14.31 trillion with a volume of around 9.41 billion.