 "UPI")
The Speedy Cost Service (IMPS) transaction quantity was down by 5 per cent in September to 430 million from 453 million in August. (Picture: Shutterstock)
Unified Cost Interface (UPI) transactions noticed a marginal improve of 0.5 per cent in quantity, from 14.96 billion in August to fifteen.04 billion in September. The variety of every day transactions crossed 501 million in quantity and Rs 68,800 crore in worth phrases in September.
In quantity phrases, that is the very best quantity since UPI grew to become operational in April 2016. The variety of every day transactions was greater than 483 million and Rs 66,475 crore in August. In worth phrases, numbers remained virtually static at Rs 20.64 trillion, in comparison with Rs 20.61 trillion in August. In July, the figures stood at Rs 14.44 billion in quantity and Rs 20.64 trillion in worth.
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In line with information shared by the Nationwide Funds Company of India (NPCI), UPI quantity in September 2024 posted a 42 per cent year-on-year development and a 31 per cent year-on-year development in worth.
“The September UPI transaction numbers mirror, as soon as once more, how UPI has turn out to be an element and parcel of digital transactions in India. Information exhibits a rise in micro transactions,” mentioned Sunil Rongala, Senior Vice President, Head – Technique, Innovation and Analytics, Worldline India.
“The statistics from earlier months additionally point out that the expansion in UPI transaction quantity is being pushed by Particular person to Service provider (P2M) transactions, i.e., transactions for purchasing items or companies,” he added.
The Speedy Cost Service (IMPS) transaction quantity was down by 5 per cent in September to 430 million from 453 million in August. In worth phrases, IMPS transactions have been down by 2 per cent to Rs 5.65 trillion, in comparison with Rs 5.78 trillion in August. In July, it stood at Rs 490 million in quantity and Rs 5.78 trillion in worth. The September numbers have been 9 per cent decrease in quantity and 11 per cent greater in worth in comparison with the identical month final yr.
FASTag transactions noticed a dip of three per cent in September to 318 million in quantity, in comparison with 329 million in August. In worth phrases, this was marginally as much as Rs 5,620 crore from Rs 5,611 crore in August. In July, FASTag quantity stood at 323 million, with a price of Rs 5,578 crore. The month noticed a 7 per cent rise in quantity and 10 per cent in worth in comparison with September 2023.
In September, Aadhaar Enabled Cost System (AePS) quantity remained at 100 million, the identical as in August. This was 97 million in July. In worth phrases, it was down by 2 per cent to Rs 24,143 crore, in comparison with Rs 24,676 crore a month in the past. The phase noticed a 1 per cent dip in quantity and a 7 per cent dip in worth in comparison with September 2023.
First Revealed: Oct 01 2024 | 2:34 PM ist
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