UPI Transactions Surpass 100 Billion in 2023
The National Payments Corporation of India (NPCI) has reported that Unified Payments Interface (UPI) transactions in India exceeded 100 billion in 2023. In December 2023 alone, UPI recorded 12.02 billion transactions, with a total value of Rs 18.23 lakh crore. This represents a 54% year-on-year growth in transaction volume and a 42% growth in transaction value. The total UPI transactions for the entire year 2023 amounted to 117.6 billion. The monthly transactions on UPI experienced a significant increase of over 49% throughout the year, showcasing the widespread adoption and usage of UPI in India's digital payment landscape.
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