Unified Payments Interface (UPI) hit a record high in April with 558 crore transactions amounting to ₹9.83-lakh crore, the highest for the payment platform — both in terms of volume and value of transactions — since its inception. In April 2021, UPI had processed 264 crore transactions worth ₹4.93-lakh crore.
UPI had processed 540.56 crore payments in March amounting to ₹9,60,581.66 crore, data from the National Payments Corporation of India revealed. In contrast, it had processed 452.74 crore transactions worth ₹8,26,843 crore in February this year. It crossed the $1 trillion payment mark for FY22 at ₹84,17,572.48 crore.
Launched in 2016, UPI had crossed the ₹1-lakh crore milestone in December 2018, and then crossed ₹2-lakh crore in payments in terms of value in December 2019.
UPI had crossed the 100-crore volume mark in October 2019 and, after a dip in April 2020, has been gaining widespread adoption.
According to the government’s DigiDhan dashboard, BHIM UPI has emerged as the most popular means of digital payments, accounting for 38.77 per cent of all such payments in FY21.