Digital payments rebound in June after blip in April transactions

Overall transaction values reach pre-Covid levels

Unified Payments Interface (UPI), the flagship digital payment platform of the National Payments Corporation of India (NPCI), has reached an all-time high, both in terms of volume and value of transactions since its inception in 2016.

In June, the transaction volume of UPI increased 8.9 per cent to 1.34 billion, from 1.23 billion in May, and the transaction value increased almost 20 per cent to Rs 2.61 trillion, from Rs 2.18 trillion.

In April, the transaction volume of UPI plummeted to 990 million, from 1.2 billion in March, a drop of more than 20 per cent, and the transaction value