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.
Support Ethical Journalism. Support The Dispatch
The Dispatch is a sincere effort in ethical journalism. Truth, Accuracy, Independence, Fairness, Impartiality, Humanity and Accountability are key elements of our editorial policy. But we are still not able to generate great stories, because we don’t have adequate resources. As more and more media falls into corporate and political control, informed citizens across the world are funding independent journalism initiatives. Here is your chance to support your local media startup and help independent journalism survive. Click the link below to make a payment of your choice and be a stakeholder in public spirited journalism