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UPI logs 3.55 billion transactions in August worth Rs 6.39 lakh crore

NPCI's Bharat BillPay, too, saw transactions grow from 51.13 million in July to 58.88 million in August. Their value crossed the Rs 10,000-crore-mark in August, coming in at Rs 10,307.40 crore

September 01, 2021 / 02:19 PM IST
BHIM is an Indian mobile payment app developed by the National Payments Corporation of India, based on the Unified Payments Interface.

BHIM is an Indian mobile payment app developed by the National Payments Corporation of India, based on the Unified Payments Interface.

United Payments Interface (UPI) clocked more than 3.55 billion transactions in August, a 9.56 percent jump in volume from July, signalling wider digital payments adoption.

In terms of value, the National Payments Corporation of India’s (NPCI) flagship payment platform saw transactions worth Rs 639,116 crore, up 5.41 percent from the previous month.

Since January 2021, UPI has seen monthly transactions grow by 54 percent from 2.30 billion, while monthly transaction values have grown by 48 percent.

Launched in 2016, UPI has seen tremendous adoption further accelerated by the coronavirus outbreak. In December 2018, monthly transactions crossed the Rs 1,00,000-crore mark and Rs 2,00,000 crore a year later.