Sanjeev chandak - Latest News Update, Information, Photos & Videos on Sanjeev chandak at Lokmat Times

New Delhi, Nov 1 The Unified Payments Interface (UPI) platform processed 7.3 billion transactions in the month of October, a record high as India witnessed a bumper festive season.According to the National Payments Corporation of India (NPCI), UPI processed 7.3 billion transactions worth Rs 12.11 trillion in October.The volume was up 73 per cent while the value of transactions was up 57 per cent (year-over-year)."UPI has been a game changer in real-time payments and is the most preferred choice of payment. UPI platform recorded 6.8 billion transactions in September 2022 and the festive month gave further boost with transactions reaching 7.3 billion in October," said Sanjeev Chandak, Co-founder and CEO of fintech platform ftcash."Digitisation is enabling India to become a cashless economy and the surge in UPI transactions mirrors this upward trajectory towards digitisation," he added.Launched in 2016, UPI crossed 1 billion transactions in October 2019.In FY23 to date, the UPI has processed 44.32 billion transactions worth Rs 75 trillion.Nearly 76 per cent Ind now prefer using UPI (unified payments interface) during online checkouts while more millennials (84 per cent) are now using UPI when shopping online, a report showed on Tuesday.As the physical, digital and virtual worlds are converging, Ind are willing to explore and purchase within apps/browsers as well from the social media platforms, according to new research from financial services technology provider FIS.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Narendra Modi

Lok Sabha Election 2024

Heatwave In India

Mumbai Mega Block

Maharashtra Lok Sabha Election

T20 World Cup 2024

Sanjeev ChandakFOLLOW

Sanjeev chandak, Latest News

Technology :UPI processes record 7.3 bn transactions in October

New Delhi, Nov 1 The Unified Payments Interface (UPI) platform processed 7.3 billion transactions in the month of ... ...