UPI Transactions Surge to Record Highs Amid Festive Buying
In October, UPI transactions in India hit a record high of Rs 27.28 lakh crore and 20.7 billion in value and volume, respectively, due to festive shopping. The NPCI reports significant growth in digital payments, with UPI accounting for 85% of digital transactions in the country.
- Country:
- India
UPI transactions reached unprecedented levels this October, driven by festive buying frenzy. The value soared to Rs 27.28 lakh crore, surpassing previous records, according to NPCI data.
This digital payment method showcased substantial growth, reflecting the robustness of India's digital infrastructure, vital especially during high-traffic festivities like Diwali.
As UPI covers 85% of India's digital payments and expands internationally, its influence further emphasizes the widespread adoption of digital transactions across Indian society.
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