UPI payments grow 80% in a year with over 2 billion payments: NITI Aayog CEO
The number of transactions made through Unified Payments Interface (UPI) crossed the 2-billion mark in October 2020, said NITI Aayog Chief Executive Officer (CEO) Amitabh Kant on Monday.
As per Kant, the transaction volume has grown 80 per cent in a year’s time as there were 1.14 billion payments made through UPI in October last year.
The transaction value has also doubled in this time frame.
“Amazing! UPI crossed the 2-billion transaction mark in October 2020. The UPI volume has grown 80 per cent from 1.14 billion transactions in October 2019 to 2.07 billion transactions last month. The transaction value has jumped 101 per cent from Rs 1,91,359.94 crore to Rs 3,86,106.74 crore,” Kant tweeted.
The peak in digital mode of payments by users has come amid the coronavirus phase, as also the festive season began in the country.