UPI transaction value rises marginally to Rs 10.73 lakh crore in August

The value of digital payment transactions through UPI rose to Rs 10.73 lakh crore in August this year, up marginally from the previous month.

In July 2022, the UPI-based digital transaction value stood at Rs 10.63 lakh crore.

The value of UPI transactions during August this year relates to a total of 6.57 billion (657 crore) transactions, up from 6.28 billion (628 crore) in the preceding month, according to the data released by the National Payments Corporation of India (NPCI).

In June, there were 5.86 billion transactions, valued at Rs 10.14 lakh crore.

Among the other data sets on the NCPI framework, instant transfer-based IMPS clocked transactions worth Rs 4.46 lakh crore in August, relating to a total of 46.69 crore transactions.

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In July, IMPS stood at Rs 4.45 lakh crore in value terms through a total of 46.08 crore transactions.

National Electronic Toll Collection FASTag, for automatic toll deduction at toll plazas, witnessed transactions worth Rs 4,245 crore in August, up from Rs 4,162 crore in the preceding month, relating to over 27 crore transactions (26.5 crore in July).

In terms of Aadhaar-based payment, transaction value came down by nearly 10% to Rs 27,186 crore in August, as against Rs 30,199 crore in the previous month. The number of transactions fell to 10.56 crore from 11 crore.