UPI transaction create records, the country reported 456 crore transaction, with total value of 8 lakh crore in December 2021
By Lokmat English Desk | Published: January 3, 2022 05:23 PM2022-01-03T17:23:32+5:302022-01-03T17:29:23+5:30
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Since the corona pandemic entered the country, we have seen a rise in online/digital transactions and now the graph of digital payment users continues to rise.
The number of UPI payments in India is also reaching new heights every month. In December 2021, UPI Transaction broke all its old records. 456 crore transactions of UPI have been done in December.
The total value of these UPI transactions is Rs 8.27 lakh crore, which is the highest ever. Earlier, in October 2021, 421 crore transactions of UPI were completed during the festive season.
According to the data released by the National Payments Corporation of India (NPCI) on UPI transactions in December 2021, says it is 9 percent higher than the transactions made in December 2020.
In terms of transaction value, it is 7.6 percent higher than in December 2020. As far as NPCI figures are concerned, a total of Rs 3,800 crore has been transacted in 2021.
NPCI claims that if low-cost offline transactions are approved, up to 100 crores UPI transactions can be made per day.
The graph of UPI transactions has grown significantly over the last four years. In these 4 years, UPI transactions have increased by 70 times.
Debit card transactions have declined during this period. UPI transactions are 8 times more than card transactions.
UPI transactions in India with many platforms like PhonePay, Google Pay, Bhim, Paytm, and many transactions can be done from mobile to insurance policy.
