Business Standard

With UPI 2.0 set to launch soon, transactions for July fall by 4%

UPI has seen growth in volume and value over the previous month, barring a marginal fall in volume in October 2016, May and July 2018

With UPI 2.0 set to launch soon, transactions for July fall by 4%
Premium

Nikhat Hetavkar Mumbai
As the launch of United Payments Interface (UPI) 2.0 is nearing, transactions by its previous version fell by 4 per cent till July. This is the biggest drop in volume since its introduction.

The volume of transactions for July stood at 235.65 million against 246.37 million in June. The value of UPI transactions grew by 12 per cent to Rs 458 billion.

UPI has seen growth in volume and value over the previous month, barring a marginal fall in volume in October 2016, May and July 2018. This growth sped up as wallets struggled to comply with Know-your-customer norms since October 2017.

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in