The National Payments Corporation of India (NPCI) has announced that UPI transactions this year 2023 were over one hundred billion, with a total count of 118 billion. This is quite an achievement. This success shows an amazing 59% growth in how much it is and a fantastic 45% boost in worth. It now stands at Rs183 trillion or the same as a $2,670 billion’s value.
Exciting December: UPI Breaks Records with 12 Billion Transactions
The big end to a great year for UPI happened in December. They had more transactions ever, worth Rs 18.23 trillion and with 12 billion total counts done. This means the value increased by 5% and volume increased by 7%. This happened in November. Amazingly, the usual daily deals for December reached a big number of 387 million. This is based on information from NPCI data.
Also read: REVOLUTIONIZING SPECTRUM ALLOCATION: THIS IS A GAME-CHANGER FOR GOVERNMENT AGENCIES
In 2023, UPI payments broke past records and gave a new standard for future digital money in India. The journey started in August 2023 when UPI reached the amazing mark of 10 billion transactions for the first time. Since then, it has kept growing faster each day.
In November, 11.24 billion transactions worth Rs 17.4 trillion were happening, followed by December, when the number of deals increased by a big amount (54%) and their value went up as well (by 42%). UPI transactions are going up a lot. People think it could beat Mastercard’s daily number of 440 million, rising by a big amount like 60%.
