Anushruti Singh
The digital transaction are rising in India. In a new development taking the centre stage, the Unified Payments Interface (UPI) reached a historic milestone with a stunning 9.96 billion transactions recorded in July. The National Payments Corporation of India (NPCI) data reveals a remarkable trajectory, exemplifying a 6.6 per cent increase in UPI transactions compared to the previous month of June. This spectacular rise is reflected in the total transaction value for July, which soared to a whopping Rs 15.34 lakh crore, a significant 4 per cent increase over the previous month’s figure of Rs 14.75 lakh crore.
Sachin Castelino, Chief Strategy & Transformation Officer, In-Solutions Global commenting on rise in UPI transactions says that the continuous rise in the number of UPI transactions, with the July numbers coming in close to 10 billion, builds on strength to the digital India story.
“With the UPI’s reach expanding to other countries now, namely France and Sri Lanka, it is only a matter of time before it gets recognised as a global payment system. We are fortunate and extremely grateful to have been part of the story,” he said.
As UPI continues its remarkable journey, last month PM Modi announced that UPI would be available in France soon. Meanwhile, in July, India and Sri Lanka reached an agreement to implement the payment system as well.
