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UPI volumes at new high; digital transactions almost at pre-Covid levels

In August, UPI volumes touched 1.61 billion transactions worth Rs 2.98 trillion, compared to 1.49 billion transactions in July worth Rs 2.9 trillion

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Immediate Payment Service (IMPS) clocked a transaction count of 246.12 million in August worth Rs 2.35 trillion, compared to 222.21 million transaction worth Rs 2.25 trillion.

Subrata Panda Mumbai

3 min read Last Updated : Sep 01 2020 | 10:00 PM IST

Unified Payment Interface (UPI), the flagship payments platform of National Payments Corporation of India (NPCI), is touching new highs every month. In August, UPI volumes touched 1.61 billion transactions worth Rs 2.98 trillion, compared to 1.49 billion transactions in July worth Rs 2.9 trillion, data released by NPCI revealed.

Digital payments transaction have rebounded from the covid19 shock and have reached pre-covid levels, despite the massive contraction in Indian economy owing to the lockdown imposed in the initial months to contain the spread of the virus.

“There is a massive adoption of UPI in offline and online segment. In the offline segment

Topics : Coronavirus FASTag Lockdown United Payments Interface National Payments Corporation of India Digital Payments Demonetisation UPI transactions

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