UPI transactions up over 3% at 678 crore in September

UPI transactions grew by over 3% to 6.78 billion in September from a month ago, data from the National Payments Corporation of India (NPCI) showed.

In August, the total number of Unified Payment Interface (UPI) based digital financial transactions stood at 6.57 billion (657 crore).

In value terms, 6.78 billion (678 crore) transactions in the last month correspond to transactions worth Rs 11.16 lakh crore, up from Rs 10.73 lakh crore in August, as per NPCI data.

In July, India processed 6.28 billion UPI transactions worth Rs 10.62 lakh crore.

UPI is becoming a preferred mode among users and it is simple to use, fast and a secure payment method.

Among other payment methods under the NCPI umbrella, the instant inter-bank payments through IMPS stood at 462.69 million (46.27 crore) in September slightly lower than 466.91 million (46.69 crore) in the preceding month. In July, it was 460.83 million (46.03 crore).

Aadhaar number-based AePS transactions stood at 102.66 million in September, as against 105.65 million a month earlier. In July, there were as many as 110.48 million AePS transactions.