UPI transactions grew more than 3 percent in September to 6.78 billion from a month ago, data from NPCI showed on Saturday.
In August 2020, the total number of Unified Payment Interface (UPI)-based digital financial transactions was 6.57 billion (657 crore).
In terms of value, 6.78 billion (678 crore) transactions in the past month equate to transactions worth Rs 11.16 lakh crore, up from Rs 10.73 lakh crore in August, according to National Payments data Corporation of India (NPCI).
In July, India processed 6.28 billion UPI transactions worth Rs 10.62 lakh crore.
UPI is becoming a preferred mode among users and it is a user-friendly, fast and secure payment method.
Among other payment methods under the NCPI umbrella, direct interbank payments through IMPS were 462.69 million (46.27 crore) in September, slightly down from 466.91 million (46.69 crore) in the previous month. In July it was 460.83 million (46.03 crore).
Aad’s number-based AePS transactions totaled 102.66 million in September, up from 105.65 million a month earlier. In July there were no less than 110.48 million AePS transactions.
(This story was not edited by DailyExpertNews staff and was generated automatically from a syndicated feed.)