UPI Records Highest-Ever Monthly Transaction Volume In July
India’s Unified Payments Interface (UPI) recorded its highest-ever monthly transaction volume in July this year, with 23.66 billion transactions worth 29.88 lakh crore rupees. In a social media post, the Prime Minister’s office said that the performance marks a significant milestone for India’s digital payments ecosystem. It noted that this reflects the continued expansion of the country’s digital payments ecosystem, with strong adoption across Tier-2, Tier-3 and rural regions.
UPI has emerged as the world’s largest real-time payments platform, anchoring the country’s digital economy.
A decade after its launch, UPI has transformed from a fledgling digital experiment into the world’s largest real-time payments platform, powering nearly half of global instant payment transactions. Launched on 11th April, 2016, UPI today stands as the backbone of the country’s digital economy, driving financial inclusion, enabling seamless commerce and setting global benchmarks in digital public infrastructure.
