The Unified Payment Interface (UPI) saw a 13% growth in the total transaction volumes taking place between May 2017 and June 2017, while the amount transacted increased by 12% on a monthly basis to Rs 3,098.4 crore, according to data published by the National Payments Corporation of India, a company which is owned by Indian banks, and owns and operates payments systems such as UPI and IMPS. Some observations: 1. In June 2017, average amount per transaction on UPI went down by 1% (month on month) to Rs 2,993. 2. Number of Banks on UPI increased to 52 Banks. There were only 35 banks six months ago. 3. Number of transactions grew by 1.19 million in June 2017 whereas the total amount transacted increased by 333.05 crore. In the May 2017, volume had increased by 2.16 million and amount transacted was also grew by Rs 524.5 crore respectively.
