'Incredible milestone': UPI transactions cross 10 billion mark in August

Unified Payments Interface (UPI) transactions, for the first time, crossed 10 billion mark in August, the National Payments Corporation of India (NPCI) said on Thursday. UPI is a real-time payment system developed by the NPCI, an umbrella organisation for all retail payment systems in India. 

"Drumroll please! UPI has just shattered records with an astonishing 10 billion-plus transactions. Join us in celebrating this incredible milestone and the power of digital payments. Let's keep the momentum going and continue to revolutionize the way we make transactions with UPI!," NPCI said on X, formerly known as Twitter. 

The UPI transactions on August 30 stood at 10.24 billion. In value terms, the transaction had totalled Rs 15,18,456.4 crore, according to data shared by the NPCI on X. 

The number of UPI transactions in July was 9.96 billion (996.4 crore), up from 9.33 billion in June. In value terms, the transactions totalled Rs 15,33,645.20 crore. UPI (Unified Payment Interface) is an instant payment system that allows users to instantly transfer money to any bank account.

(With inputs from PTI)