UPI Transactions Hit Record Rs 27.28 Lakh Crore in Festive Surge
In October, UPI transactions reached a record high of Rs 27.28 lakh crore, boosted by festive buying. The system recorded a 16% year-on-year growth. UPI's expansion, now present in several countries, is transforming payment behavior in India and enhancing global real-time payment systems.
- Country:
- India
Fueled by festive shopping, Unified Payments Interface (UPI) transactions soared to a record Rs 27.28 lakh crore in October, as per National Payments Corporation of India (NPCI) data. This marks a significant milestone in both transaction value and volume.
In comparison to last year, UPI registered a 16% rise from Rs 23.49 lakh crore recorded during the same period. On a month-on-month basis, transaction values increased by 9.5% in October.
UPI's growth reflects its influence on India's digital payment landscape, accounting for 85% of digital transactions in the country. Its international presence expands across seven countries, including recent operations in France, enhancing seamless payment solutions for Indians abroad.
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