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UPI transactions grow 12% in July 2017; Rs 3411 cr transacted

The Unified Payment Interface (UPI) saw a 12% growth in the total transaction volumes taking place between June and July 2017, according to data published by the National Payments Corporation of India (NPCI). The NPCI is a company owned by Indian banks, and owns and operates payments systems such as UPI and IMPS. The total number of transactions in July were around 160% higher than they were at the end of January 2017. The amount transacted increased by 10% to Rs 3,411.4 crores over June 2017. The amount transacted in July 2017 was double (101% higher) of what it was in January 2017. Some observations: 1. UPI transactions have been growing since March 2017, though if you take into account number of transactions per day, there wasn't a decline in February 2017 either.   2. Number of transactions grew by 1.28 million in June…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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