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 Digital Payment Transactions

Month on Month Digital Payment Transactions

 

Apr'2024

May'2024

Jun'2024

Jul'2024

Aug'2024

Sep'2024

Volume (in crore)

1,684

1,762

1,738

1,783

1,768

1,767

Value (in ₹ lakh crore)

238

476

243

443

287

251

 

Digital Payment

Source: RBI, NPCI & Banks

Digital Payment

Source: RBI, NPCI & Banks

 

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a. Month on Month UPI Transactions

 

Apr'24

May'24

Jun'24

Jul'24

Aug'24

Sep'24

Volume (in crore)

1,330.40

1,403.58

1,388.51

1,443.56

1,496.30

1,504.17

Value (in ₹ lakh crore)

19.64

20.45

20.07

20.64

20.61

20.64

 

Digital Payment

Source: NPCI

Digital Payment

Source: NPCI

Digital Payments have significantly increased in recent years as a result of coordinated efforts of the Government with all stakeholders. The total digital payment transactions volume increased from 2,071 crore in FY 2017-18 to 18,737 crore in FY 2023-24 at CAGR of 44%.

Digital Payments include modes such as NACH, IMPS, UPI, AePS, NETC, Debit Card, Credit Card, NEFT, RTGS, Prepaid Payment Instruments, Internet Banking, Mobile Banking and Others (all intrabank transactions).

Source: RBI, NPCI & Banks

 

UPI has revolutionized digital payments in the country, UPI transactions have grown from 92 crore in FY 2017-18 to 13,116 crore in FY 2023-24 at CAGR of 129%. As per ACI Worldwide Report 2023, around 46% of the global real-time payment transactions is happening in India. UPI has been the major driving force in the overall growth of digital payment transactions in the country accounting for 70% of digital payment transactions in FY 2023-24. In May 2024, UPI reached another milestone recording over 1,403 crore transactions in a single month for the first time.

 

Source : NPCI

 

UPI transactions are bifurcated into two categories:

 . P2P (Person-to-Person) Transactions involve transfer of funds between two individual users or individual accounts through UPI.

 . P2M (Person-to-Merchant) Transactions involve payments through UPI made from an individual to merchants or service providers.

 

Source : NPCI

 

Internationalization of UPI & RuPay:

India’s indigenously developed UPI and RuPay cards are world class platforms for enabling digital payments. Government is making efforts to promote these products globally.

 .  At present UPI is fully functional and live in UAE, France, Bhutan, Sri Lanka, Nepal, Singapore and Mauritius

 .  RuPay cards acceptance is live in Nepal, Bhutan, Singapore, UAE, and Mauritius

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आगे पढ़ें...

a. Month on Month UPI Transactions

 

Apr'24

May'24

Jun'24

Jul'24

Aug'24

Sep'24

Volume (in crore)

1,330.40

1,403.58

1,388.51

1,443.56

1,496.30

1,504.17

Value (in ₹ lakh crore)

19.64

20.45

20.07

20.64

20.61

20.64

 

Digital Payment

Source: NPCI

Digital Payment

Source: NPCI

Digital Payments have significantly increased in recent years as a result of coordinated efforts of the Government with all stakeholders. The total digital payment transactions volume increased from 2,071 crore in FY 2017-18 to 18,737 crore in FY 2023-24 at CAGR of 44%.

Digital Payments include modes such as NACH, IMPS, UPI, AePS, NETC, Debit Card, Credit Card, NEFT, RTGS, Prepaid Payment Instruments, Internet Banking, Mobile Banking and Others (all intrabank transactions).

Source: RBI, NPCI & Banks

 

UPI has revolutionized digital payments in the country, UPI transactions have grown from 92 crore in FY 2017-18 to 13,116 crore in FY 2023-24 at CAGR of 129%. As per ACI Worldwide Report 2023, around 46% of the global real-time payment transactions is happening in India. UPI has been the major driving force in the overall growth of digital payment transactions in the country accounting for 70% of digital payment transactions in FY 2023-24. In May 2024, UPI reached another milestone recording over 1,403 crore transactions in a single month for the first time.

 

Source : NPCI

 

UPI transactions are bifurcated into two categories:

 . P2P (Person-to-Person) Transactions involve transfer of funds between two individual users or individual accounts through UPI.

 . P2M (Person-to-Merchant) Transactions involve payments through UPI made from an individual to merchants or service providers.

 

Source : NPCI

 

Internationalization of UPI & RuPay:

India’s indigenously developed UPI and RuPay cards are world class platforms for enabling digital payments. Government is making efforts to promote these products globally.

 .  At present UPI is fully functional and live in UAE, France, Bhutan, Sri Lanka, Nepal, Singapore and Mauritius

 .  RuPay cards acceptance is live in Nepal, Bhutan, Singapore, UAE, and Mauritius

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