What is the latest transaction volume for India's UPI in December?

In December, UPI processed 21.63 billion transactions, reaching a new high.

What is the National Payments Corporation of India (NPCI) reviewing regarding UPI?

The NPCI is reviewing consumer safety features, including the 'pull payments' function, due to concerns over misuse.

How much did UPI transaction value increase in December?

The value of UPI transactions rose to Rs 27.97 lakh crore in December, a nearly 6% increase from November.

Home / Business and Economy / UPI Records Record Highs in December Transactions

UPI Records Record Highs in December Transactions

1 Jan

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Summary

UPI processed 21.63 billion transactions in December.
Consumer spending during holidays drove digital payment surge.
NPCI reviews consumer safety features amid growing concerns.

UPI Records Record Highs in December Transactions

India's Unified Payments Interface (UPI) experienced a significant rebound in December, achieving record transaction volumes and values. The system processed 21.63 billion transactions, surpassing November's figures, with a total transaction value reaching Rs 27.97 lakh crore. This upward trend was largely attributed to increased consumer spending during the festive Christmas and New Year season.

Year-on-year, UPI demonstrated robust growth, with transaction volumes up by 29% and values increasing by 20%. Other digital payment methods like IMPS and FASTag also saw a rise in activity. However, the Aadhaar Enabled Payment System (AePS) witnessed a sequential decline in transactions during December.