UPI transactions cross 1 billion in first 15 days of October: RBI data

Unified Payment Interface (UPI), the flagship payments platform of National Payments Corporation of India (NPCI), crossed 1 billion transactions in the first 15 days of October, data from the Reserve Bank of India (RBI) shows.

In value terms, the transactions were Rs 1.92 trillion in those 15 days, breaking previous records. Data updated till Tuesday showed the total transactions reached 1.284 billion for a value of Rs 2.41 trillion. In the whole of September, UPI was used 1.8 billion times for a total value of Rs 3.29 trillion.

The coronavirus (Covid-19) pandemic has resulted in massive adoption of UPI in the offline and online segments. In the offline segment, people are shunning cash and adopting UPI.