The number of Unified Payments Interface ( UPI) based transactions crosses the mark of 2 billion in October 2020, NITI Aayog CEO Amitabh Kant said on Monday. In October 2020, UPI registered 207 crore transactions. Such transactions were worth 3.3 lakh crore, according to the National Payments Corporation of India (NPCI). It shows the growing acceptance of UPI among people.
In a press conference, the NITI Aayog CEO also said the UPI volume grew 80 percent from 1.14 billion transactions that were recorded last year in October 2019.
“Amazing!UPI crossed the 2 -billion transaction mark in October 2020. UPI volume has grown 80% from 1.14 billion transactions in October 2019 to 2.07 billion transactions in last month. The transaction value has jumped 101% from Rs 1,91,359.94 crore to Rs 3,86,106.74 crore”, he tweeted .
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“ BHIM UPI has managed to change the face of person -to-person and person-to-merchant money transfer in the past few years while making them safer and more secure ”NPCI said in a tweet.