UPI-based payments have marked another record by clocking 1.62B transactions in August, as per data released by NPCI. In the same month last year, 918M transactions were recorded. August transactions were worth Rs 2.98 trillion, rising 8% from Rs2.90 trillion in July and Rs 1.54 trillion a year ago. UPI transaction, over the last two years, have exceeded debit card transactions in terms of volume; 1.2 times higher in 2018-19 and 2.5 times higher in 2019-20.

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