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UPI Transaction Value Up By 2.1x To Rs 6.39 Lakh Crores In August 2021: NPCI Data

The month of August saw the highest number of average UPI transactions in a day.

upi

The transaction value on the Unified Payments Interface (UPI) stood at Rs 6.39 lakh crores in August 2021, up by 2.1x compared to the same month in the previous year, according to data released by the National Payments Corporation of India (NCPI). Overall, transaction volumes increased by 2.2 times over the last year to 3.56 billion in August. While UPI payment volumes grew by 9.5% in August 2021 over the previous month, the UPI transaction value went up by 5.4% compared to July. This sharp increase comes after a drastic slump in both metrics in April, given several state-imposed lockdowns due to the second wave of the COVID-19 pandemic. Key observations 1. Increase over August: The number of transactions increased by 307.7 million in August, whereas the total amount transacted went up by Rs 32,835.9 crores. In the previous month…

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