UPI logs record 3 bn transactions in July, riding on digital payments

The platform processed transactions worth Rs 6.06 trn in July, up 10.76 per cent from June

Unified Payments Interface (UPI), the flagship payments platform of the National Payments Corporation of India (NPCI), made a record in volume and value of transactions in July as digital payments rise in the pandemic. 

UPI processed a record 3.24 billion transactions in July up 15.7 per cent from June when it processed 2.8 billion transactions. In value terms, in July, the platform processed transactions worth Rs 6.06 trillion, up 10.76 per cent from June. 

UPI was launched in 2016 and crossed 1 billion transactions for the first time in October 2019. The next billion transactions came in just a year.