Value of UPI transactions beat cards in first three months of Q4: NPCI

The Unified Payments Interface (UPI) has surpassed debit and credit cards in terms of transactions. 

The aggregate volume of transactions through the UPI - the government’s flagship payments platform - has crossed that of credit and debit card transactions in January 2019. The value of UPI transactions remained higher in the first three months of 2019, shows data by the National Payments Corporation of India (NPCI) and Reserve Bank of India (RBI).

UPI has seen exponential growth between March 2018 and March 2019 with monthly transaction volumes growing 4.5 times to 799.54 million over the past one year.
 

In January