By Admin 
UPI transactions in India: How the trend of people has increased rapidly towards digital payment, you can guess from the fact that in the month of May itself, a transaction of 18.68 billion has taken place. This is 4 percent higher than the month of April. Earlier, there was a transaction of 17.89 billion in April. If it is seen according to the currency, then it is a transaction of Rs 25.14 lakh crore in the month of May, which was Rs 23.95 crore in April a month ago.
33 percent increase on an annual basis
According to the National Payment Corporation of India, where this is an increase of 33 percent in UPI payment compared to last year, it has increased by about 14 percent more than in April. On an average, 602 million transactions have taken place in the month of May. Its total value is Rs 81,106 crore.
Significantly, UPI, which started in 2016 in the country, has received popularity, especially after the demonetisation. On the one hand, where the smartphone has reached the people fast, apps like Phone Pay, Google Pay and Paytm have further strengthened digital payments. In such a situation, UPI has increased its scope in digital payment.
UPI’s popularity increased rapidly
The total transaction during the financial year 2024-25 was 83.7 percent, which was 79.7 percent a year ago. The RBI said that by the next 2028-29, UPI will increase the scope of UPI in about 20 countries of the world. Already in Bhutan, France, Nepal, Mauritius, Singapore, Sri Lanka, the Indian UPI app is accepted through QR code. With this, it has become very easy to pay Indian students, tourists and businessmen through the UPI app.
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