UPI Hits Record with 22.64 Billion Transactions in March
In March, Unified Payments Interface (UPI) reached a record 22.64 billion transactions, marking a 24% increase from the previous year. UPI now facilitates 85% of India's digital transactions and is expanding internationally, with presence in seven countries, including a recent milestone entry in France.
- Country:
- India
The Unified Payments Interface (UPI) marked an unprecedented milestone in March, recording a staggering 22.64 billion transactions. The Department of Financial Services celebrated this milestone as a significant step in India's digital payment revolution.
Transactions via UPI increased by 24% compared to the previous year, with 18.3 billion transactions recorded in March 2022. February's numbers stood at 20.39 billion, underscoring the platform's rapid growth.
UPI, known for its user-friendly interface and robust security, now supports 85% of India's digital transactions and has extended its reach to seven countries, including a strategic launch in France.
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