Digital payments platform Unified Payments Interface (UPI) recorded 5.58 billion transactions in April 2022, a new all-time high for the payment’s platform since its operation. It saw transactions worth Rs 9.83 trillion in value terms.
On a month-on-month basis, UPI recorded a 3.33 percent jump in volume of transactions and 2.36 percent increase in value of transactions. The UPI had reached the $1-trillion mark in transaction values in the financial year 2021-22.
On a year-on-year (YoY) basis, the volume of transactions jumped 111 percent and the value of transactions also recorded a near 100 per cent jump. UPI processed 2.64 billion transactions worth Rs 4.93 trillion in April 2021.
UPI had logged 5.4 billion transactions worth Rs 9.6 trillion in March 2022. The National Payment Corporations of India (NPCI), the umbrella entity that handles UPI, RuPay, Bharat Bill Pay etc, is aiming for UPI transactions worth $1 billion per day in the next 2-3 years.
