Unified Funds Interface (UPI) is the real-time fee mechanism. The moment fee system permits customers to immediately switch cash to any checking account. Run by the Nationwide Funds Company of India (NPCI), UPI just lately achieved a brand new milestone. UPI transactions within the month of August crossed 10 billion. Knowledge from NPCI reveals that 10.5 billion transactions have been recorded on the platform in August. The volumes are primarily pushed by three gamers within the section — PhonePe, Google Pay and Paytm. In July final 12 months, PhonePe processed round 4.7 billion transactions, adopted by Google Pay at 3.4 billion.
“Drumroll please! UPI has simply shattered data with an astonishing 10 billion plus transactions. Be a part of us in celebrating this unimaginable milestone and the facility of digital funds. Let’s maintain the momentum going and proceed to revolutionize the way in which we make transactions with UPI!,” NPCI posted on X, previously often known as Twitter.
The numbers that matter
* The ten.5 billion transactions are up from 9.9 billion in July 2023.
* By way of the worth of funds settled, UPI recorded Rs 15.7 lakh crore in August, that is barely greater than Rs 15.3 lakh crore in July.
* The variety of banks that at present reside on UPI stands at 473.
* NPCI reported 6.5 billion transactions in August final 12 months and three.5 billion in August 2021. Inside two years the fee methodology has grown nearly thrice.
Glorious to the core! the place is all of the IBD-ITCH slaves/coolies who have been ridiculing the UPI began by BJP and POM Modi ji. Lengthy Stay Modi ji.
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