The number of transactions on the National Payment Corporation of India’s (NPCI) Unified Payment Interface (UPI), which is a mobile-only digital payment ecosystem, has crossed the 100-crore mark within two years of its launch.
The latest figures released by the NPCI show that the UPI ecosystem handled 19 crore transactions amounting to ₹27,021.85 crore in April alone. Launched in August 2016, the cumulative number of UPI transactions since the beginning stood at 112 crore at the end of April.
A promising year
Going by the statistics, it looks like the year 2018 is promising for UPI, as the activities on the UPI ecosystem have seen good growth during the period between January and April.
Almost 60 per cent of the number of transactions and the amount handled on the UPI were recorded during this period. The number of transactions on the UPI was around 69.1 crore during the January-April period.
Though the cumulative amount transacted on the UPI ecosystem stood at ₹1.43 lakh crore from August 2016 to April 2018, around ₹85,891.85 crore was transacted in the first four months of 2018 alone.
The cumulative amount had crossed the ₹1 lakh crore mark only in March.