According to the National Payments Corporation of India (NPCI) data, on August 30, the figure of UPI transactions increased to 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.
Transactions through the Unified Payments System (UPI) crossed 10 billion in August. According to National Payments Corporation of India (NPCI) data, on August 30, the number of UPI transactions reached 10.24 billion. 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. In August 2021, the number of transactions through UPI 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 doing transactions 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 trust increased on digital payments In the year 2016-17, during demonetisation, the Government of India promoted digital payments. In the year 2016, the Modi government launched UPI-BHIM. After demonetisation, a large number of people relied on digital payments. After this, during the Kovid epidemic, through digital payments, most of the people of the country chose UPI instead of cash for payment of money and today Indians everywhere from Kashmir to Kanyakumari have unwavering faith in UPI.
