India

UPI Transactions Reach Record 1.62 Billion In August

By
OB Bureau

New Delhi: The pandemic has given a boost to cashless transactions. Unified Payments Interface (UPI)-based payments using apps like Google Pay, Paytm, PhonePe, etc hit a record high of 1.62 billion transactions in August, more than 50 per cent rise over the same month last year, according to data released by National Payments Corp. of India (NPCI).

Value-wise, August transactions were worth ₹2.98 trillion. It was ₹2.90 trillion in July and ₹1.54 trillion in August 2019.

“UPI has been pivotal in pushing the boundaries of digital payment acceptance in India by penetrating the ground level users with safe P2P and P2M fund transfers,” NPCI said in a tweet on Tuesday.

The RBI has also said that the number of UPI transactions is 2.5 times higher than the number of debit card transactions in 2019-20.

Other digital payments such as Bharat Bill Payment System (BBPS) that is used to pay utility bills such as telephone, electricity, and others, rose to 21.21 million transactions worth ₹3,782 crore.

Also, FASTag transactions at tollways and some airport parking lots grew by 12 percent in August.

 

OB Bureau

Recent Posts

New Artist To Play King Kansa Role During Dhanu Yatra In Odisha’s Bargarh

Bargarh: A new artist will be selected to play the mythological character King Kansa during…

November 22, 2024

Shah Rukh’s Daughter Suhana Khan Brutally Trolled For Vivo Ad [Watch]

Mumbai: Suhana Khan will be making her Bollywood debut with ‘King’ along with her superstar…

November 22, 2024

Badshah Comes Out In Support Of Diljit Dosanjh In Alcohol Controversy

New Delhi: After Diljit Dosanjh called out the double standards of Telangana government for banning…

November 22, 2024

World War 3 Has Begun, Says Ukraine’s Former Military Chief

New Delhi: Recent actions and counter-actions in the Russia-Ukraine conflict have pushed the world to the…

November 22, 2024

3 Arrested With Fake IPS Officers’ Uniforms, Identity Cards In Odisha’s Balangir

Balangir: Three persons were arrested and fake IPS officers’ uniforms along with fake identity cards…

November 22, 2024

‘I Want To Talk’: Twitterati Lauds Abhishek Bachchan, Say He Is Better Than Amitabh

Mumbai: Abhishek Bachchan’s highly-anticipated film ‘I Want To Talk’ released in theatres on Friday, and the…

November 22, 2024

Cash-For-Vote Row: BJP Leader’s Defamation Notice Against Rahul Gandhi, Kharge

New Delhi: Accused of giving cash to secure votes ahead of election day in Maharashtra,…

November 22, 2024

CM Mohan Majhi Attends ‘Odisha State Day’ Celebrations At IITF In Delhi

Bhubaneswar: Chief Minister Mohan Charan Majhi attended the ‘Odisha State Day Celebrations’ at the 43rd…

November 22, 2024