UPI hits 2 bn payments mark, usage surge 2X in a year

NPCI said that Unified Payment Interface or UPI saw over 2 bn transactions in October, which was worth Rs 3.8 lakh cr. It took UPI transactions over three years to touch 1-bn mark in Oct 2019. The current 1bn took just one year following an incremental demand for contactless payments in the pandemic and spends during the ongoing festive season. This is, however, a 15% growth in volume compared to Sep when it had recorded 12% growth over August.

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