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UPI crosses 10 billion in transactions for the first time

Entrackr · 1y

Unified Payments Interface (UPI) has achieved a milestone, surpassing 10 billion monthly transactions for the first time after over 7 years of its inception. UPI recorded 10.24 billion transactions worth Rs 15.18 lakh crore in August. PhonePe led with a 47% market share, while Google Pay and Paytm had 35% and 13% respectively. UPI's success has spurred plans for expansion into more countries. RBI's UPI Lite, aimed at promoting micro transactions and offline digital payments, has seen wide adoption.