UPI Transactions: People in India are now paying more attention to digital payments. For the same reason its graph in the country is constantly rising. Because of this, the number of payments through UPI in India is reaching new heights every month. In December 2021, the UPI transaction broke all its old records. There were 456 crore UPI transactions in December. The total value of the transaction is Rs 8.27 lakh crore, which is the highest ever. Earlier in the festive season, in October 2021, there were 421 crore UPI transactions. Let us understand the whole statistic in detail.
Significant jump compared to December 2020
If you look at these figures released by the National Payment Corporation of India (NPCI) for UPI transactions in December 2021, this is 9 percent higher than transactions made in December 2020. Speaking of the value of these transactions, it is up 7.6% compared to December 2020.
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Many transactions are made throughout the year
NPCI figures show that around 3800 crore UPI transactions will be made in 2021 with a total value of around Rs 73 lakh crore. The NPCI claims that up to 100 crores of UPI transactions can be made every day if low value offline transactions are approved.
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There has been a 70-fold increase in the last 4 years
The graph of UPI transactions has increased significantly over the past 4 years. During these 4 years, there has been a 70-fold increase in UPI transactions, but a decline in debit card transactions during this period. UPI transactions are 8 times higher than card transactions.