The number of transactions made through Unified Payments (UPI) crossed the 2-billion mark in October 2020, informed NITI Aayog Chief Executive Officer Amitabh Kant.
As per Kant, the transaction volume has grown 80 percent in one year’s time as there were 1.14 billion payments made through UPI in October last year. The transaction value has also doubled in this time frame.
“Amazing! UPI crossed the 2-billion transaction mark in October 2020. The UPI volume has grown 80 percent from 1.14 billion transactions in October 2019 to 2.07 billion transactions last month. The transaction value has jumped 101 percent from Rs 1,91,359.94 crore to Rs 3,86,106.74 crore,” Kant tweeted.
The peak in digital mode of payments by users has come amid the coronavirus phase, as also the festive season began in the country.