UPI Payment: Digital payments are happening fiercely in the country, know how many crores of UPI payments were done in December

TechnologyUPI Payment: Digital payments are happening fiercely in the country, know how...
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UPI Transaction Increased: There is a big trend going on in the country on the front of digital payments and a glimpse of it can also be seen by looking at the figures of UPI payments. A record Rs 12.82 lakh crore was paid through the Unified Payments Interface or UPI in December. Meanwhile, the transaction figure has reached 782 crores.

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The Department of Financial Services tweeted on Monday, “UPI (Unified Payment Interface) is a big contributor to the digital payments revolution in the country. UPI transactions increased from 782 crores to Rs 12.82 lakh crores in December 2022.”

Know UPI figures for October and November

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Payments through UPI crossed Rs 12 lakh crore in October. In November, 730.9 crore transactions took place through this system and the value was Rs 11.90 lakh crore. This cost-effective way of cashless transaction (UPI Transaction Increased) is gaining popularity month by month and now 381 banks offer this facility.

On the other hand, the expert says that Dilip Modi, founder of Spice Money, said that in the last one year, UPI transactions have grown rapidly both in terms of number and value. Its biggest feature is that it is very convenient. It is also very useful in promoting financial inclusion.

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Why UPI is gaining momentum

There is a special reason for the increase in the currency of UPI in the country. Actually, people can easily make cashless payments and transactions through UPI (UPI Transaction Increased). Through UPI, a user can transfer money to multiple accounts without the need of creating a separate profile.

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Credit: bharat.republicworld.com /

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