According to the data of National Payments Corporation of India (NPCI), on August 30, the number of UPI transactions reached 10.24 billion. The value of these transactions stood at Rs 1518456.4 crore. The number of UPI transactions in July was 9.96 billion while in June it was 9.33 billion. The number of transactions through UPI was only 3.5 billion in August 2021, which has increased almost three times in two years.
The number of transactions through Unified Payments System (UPI) crossed 10 billion in August. According to National Payments Corporation of India ( NPCI) data, the number of UPI transactions reached 10.24 billion on August 30.
The value of these transactions stood at Rs 15,18,456.4 crore. The number of UPI transactions in July was 9.96 billion while in June it was 9.33 billion. NPCI is the nodal organization for all retail payment systems in the country.
Many countries want to adopt India’s UPI technology
The number of transactions through UPI in August 2021 was only 3.5 billion, which has increased almost three times in two years. Now most of the traders in our country are showing confidence in transactions through UPI. Today, be it businessmen earning crores of rupees or small-medium shopkeepers selling vegetables, everyone is transacting through UPI.
It is noteworthy that more than 35 countries now want to adopt India’s UPI technology. Japan is among the countries that have recently expressed interest in adopting UPI.
Countrymen’s confidence in digital payments increased
During demonetization in 2016-17, the Government of India promoted digital payments. In the year 2016, Modi government launched UPI-BHIM . After demonetization, people started relying on digital payments on a large scale.
After this, during the Covid pandemic, most of the people in the country chose UPI instead of cash to pay money through digital payments and today, from Kashmir to Kanyakumari, Indians everywhere have unwavering faith in UPI.
