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In just 7 months, India’s UPI clocks a staggering 2 Bn transactions

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08.11.2018

Seven months into this fiscal year, India's UPI clocked 2 billion transactions. The gravity-defying growth comes into focus when you realise that the last 1 billion transactions occurred over just the last 2.5 months.

The Unified Payments Interface (UPI) is quickly turning into a remarkable success story when it comes to electronic payment infrastructure. Just seven months into the current financial year, over 2 billion transactions have taken place over UPI, transferring a total of Rs 3.42 lakh crore. The growth rate has been galloping, averaging around 30 percent month-on-month growth over July, August and September this year. It was sometime in August that UPI crossed the 1 billion-transactions mark, taking just under three months to double that number.

UPI transactions grew by 5000% between FY 2017 and FY........

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