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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 |
Source: NPCI
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
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 |
Source: NPCI
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