Unified Payments Interface (UPI) transactions saw a record 15.48 billion transactions in November, marking a 38% year-on-year growth, according to data from the National Payments Corporation of India (NPCI). The total transaction value reached Rs 21.55 lakh crore, reflecting a 24% YoY growth.
In October, UPI had set a new benchmark with 16.58 billion transactions worth Rs 23.5 lakh crore, the highest since its inception in April 2016.
Daily UPI Transaction Numbers Surge
UPI recorded an impressive 516 million daily transactions in November, with a total daily transaction value of Rs 71,840 crore. The robust growth continues to highlight UPI’s role in revolutionizing digital payments in India.
Other Digital Payment Trends
Meanwhile, the Immediate Payment Service (IMPS) recorded 408 million transactions worth Rs 5.58 lakh crore. FASTag transactions grew by 4%, reaching 359 million, up from 345 million in October. Aadhaar Enabled Payment System (AePS) transactions stood at 92 million, totaling Rs 23,844 crore.
The government emphasizes that UPI has made transactions faster, secure, and seamless, driving India toward a cashless economy. It has empowered individuals, small businesses, and merchants by providing easy access to digital payments.
The Ministry of Finance praised UPI for its security, ease of use, and convenience. The recent integration of RuPay credit cards with UPI further enhances its utility, allowing users to make payments using their credit lines instead of savings accounts.