Digital payment transactions recover in June as Covid-19 lockdowns ease

In March, UPI had recorded a fresh high of 2.73 billion transactions amounting to Rs 5.04 trillion.

Unified Payments Interface (UPI), the flagship payments platform of the National Payments Corporation of India (NPCI), touched a record high both in terms of volume and value of transactions in June after a slump in April and May.

The platform recorded 2.8 billion transactions worth Rs 5.47 trillion in June, up 10.6 per cent in volume terms and 11.56 per cent in value terms over May. This is in sync with the opening up of the economy as Covid cases gradually came down from its peak in mid-May and lockdowns were eased in various places. The transaction volumes had dipped in