UPI processes over 7 bn transactions in Oct, record high since inception

Transactions on UPI amounted to Rs 12 trillion in October, a record high for the platform

India’s flagship digital payments platform – Unified Payments Interface (UPI) – processed over 7 billion transactions in October, a record high for the platform since its inception, on the back of festive season spending.

According to the latest data released by National Payments Corporation of India (NPCI), in October, UPI processed 7.3 billion transactions, worth Rs 12.11 trillion, a record high in terms of value of transactions. On a year-on-year basis, volume of transactions in October was up 73 per cent, while the value of transactions was up 57 per cent.

Volume and value of UPI transactions have continued to