UPI hits record high in April with 5.58 bn transactions worth Rs 9.83 trn

Value of transactions doubled on YoY basis

India’s flagship digital payments platform — Unified Payments Interface (UPI) — saw its highest ever number of transactions in April 2022 at 5.58 billon, amounting to Rs 9.83 trillion.

In March, UPI breached 5-billion transactions in a month for the first time. In April, volume of transactions was up 3.33 per cent and value of transactions rose 2.36 per cent compared to March.

In March, UPI processed 5.4 billion transactions amounting to Rs 9.6 trillion.

However, year-on-year (YoY), the volume of transactions jumped 111 per cent and value of transactions increased by almost 100 per cent.

In April 2021, UPI had processed 2.64 billion