UPI transaction volume tops 1.7 bn in Sept, crosses Rs 3 trn by value

Unified Payment Interface (UPI), the flagship payments platform of National Payments Corporation of India (NPCI), has touched a new high in the month of September, with the number of transactions breaching the 1.7 billion mark as of September 29 and the value of transactions crossing the Rs 3 trillion mark, according to data released by the Reserve Bank of India (RBI).

The coronavirus (Covid-19) pandemic has resulted in massive adoption of UPI in the offline and online segments. In the offline segment, people are shunning cash and adopting UPI. Adaption of UPI, especially at the merchant level, has been significant.