UPI transactions cross $100 bn for 1st time in India

New Delhi: India saw a whopping Rs 7.7 lakh crore (over $100 billion by value) digital transactions via unified payments interface (UPI) in October for the first time, according to latest data released by the National Payments Corporation of India (NPCI).

In the month of October that saw record festive shopping across e-commerce platforms, digital payments witnessed 4.2 billion UPI transactions in total.

In September, the NPCI recorded digital payments worth Rs 6.54 lakh crore via 3.65 billion UPI transactions.

Currently, PhonePe, Google Pay and Paytm are the leaders in the digital payments space. PhonePe registered digital transactions worth Rs 3.06 lakh crore and Google Pay Rs 2.5 lakh crore in September.

Image courtesy of thesatimes

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