UPI transactions in Jan surpass 16.99 billion, value exceeds Rs 23.48 trn

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UPI transactions in Jan surpass 16.99 billion, value exceeds Rs 23.48 trn - Business Standard

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UPI transactions in January surpassed 16.99 billion and the value exceeded Rs ? 23.48 lakh crore, marking the highest number recorded in any month, the Finance Ministry said on Thursday.

Its ease of use, combined with a growing network of participating banks and fintech platforms, has made UPI the preferred mode of real-time payments for millions of users across the country, it said.

Unified Payments Interface (UPI) remains the cornerstone of India's digital payment ecosystem, contributing to 80 per cent of the retail payments across the country, it said.