UPI Transactions Rise 5.8% MoM To Record 25.47 Bn In October

What happened

UPI transaction volume rose 5.8% MoM to a record 25.47 Bn in October from 24.07 Bn in September, according to data released by the National Payments Corporation of India (NPCI). The value of transactions processed through the Unified Payments Interface (UPI) increased 7.4% MoM to a record ₹31.53 Lakh Cr from ₹29.37 Lakh Cr in the previous month.

On a YoY basis, transaction volume grew 23%, while transaction value rose 16%. October marked the first month in which UPI processed more than 25 Bn transactions and payments worth over ₹30 Lakh Cr.

Average daily transaction value also crossed ₹1 Lakh Cr for the first time. UPI processed an average of 822 Mn transactions a day in October, up from 802 Mn in September.