Digital payment transactions value through UPI rose to Rs 10.73 lakh crore in August this year, up marginally from the previous month, according to data released by the National Payments Corporation of India (NPCI) on September 1. In July 2022, the UPI-based digital transaction value stood at Rs 10.63 lakh crore.
The value of UPI transactions during August this year relates to a total of 6.57 billion (657 crore) transactions, up from 6.28 billion (628 crore) in the preceding month, as per the data released by the National Payments Corporation of India (NPCI).
Of the other data sets on the NCPI framework, the instant transfer-based IMPS clocked transactions worth Rs 4.46 lakh crore in August, relating to a total of 46.69 crore transactions. In July, it stood at Rs 4.45 lakh crore in value terms through a total of 46.08 crore transactions.
The NETC FASTAG for automatic toll deduction at toll plazas witnessed transactions worth Rs 4,245 crore in August, up from Rs 4,162 crore in the preceding month. In terms of number of transactions, this related to over 27 crore in August, as against 26.5 crore in July.
With RuPay credit cards on UPI, UPI Lite and UPI 123Pay, transactions volumes are expected to increase further.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
