The daily unified payments interface (UPI)-based transactions have crossed 700 million for the first time, touching 707 million. In a latest report released by the National Payments Corporation of India (NPCI), it showed that the feat was achieved on the 2nd of this month. Over the past two years, the number of daily transactions has doubled, even though transaction amount growth has slowed down in comparison to previous years. This comes amid the government’s goal of achieving 100 crore transactions per day for UPI, and the platform is projected to reach this target next year at the current growth rate.
During the last month, UPI recorded around 19.5 billion transactions worth over Rs 25 lakh crore. UPI now powers around 85 per cent of all digital transactions in India and nearly 50 per cent of all real-time digital payments across the world.
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