UPI transactions surge to record 782 crore in December 2022

The variety of transactions on the Unified Payments Interface (UPI) platform registered a brand new excessive in December once they hit 782 crore. This led to the whole worth of those transactions additionally hitting a brand new excessive at Rs 12. 8 lakh crore.

There was a 7% development within the complete variety of transactions in contrast with November when the whole transactions stood at 730 crore, totalling a price of Rs 11,9 lakh crore – a month-on-month development of 8%.

Year-on-year, the quantity and worth of transactions have been up 71% and 55%, respectively.

Similarly, the December figures have been additionally increased than that of October, when the whole variety of transactions stood at 730 crore – the primary time ever it crossed 700 crore – totalling to worth of Rs 12.11 lakh crore.

The surge in transactions in October was primarily because of the festivals of Navratri and Diwali together with gross sales introduced by on-line retailers.

In 2022, the UPI platform noticed 7,404 crore transactions for Rs 125 lakh crore. Meanwhile, some customers skilled downtime on their third-party UPI apps on December 31, which the operators mentioned was attributable to heavy site visitors.

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