The Unified Payments Interface (UPI) recorded 678 Cr transactions in September 2022, a 3.2% increase from August 2022, when it recorded 657 Cr transactions. Meanwhile, transaction volume increased 4% month on month (MoM) in September to INR 11.16 Lakh Cr, crossing the 11 Lakh Cr mark for the first time.
UPI transaction volume was INR 10.73 Lakh Cr in August. In May 2022, the transaction volume surpassed INR 10 Lakh Cr for the first time. So far, the total UPI transaction volume in 2022 is INR 89.10 Lakh Cr ($1.09 Tn). This is also the first time that UPI volume has surpassed $1 trillion in a calendar year since its inception in 2016. UPI recorded INR 73 Lakh Cr (approximately $970 Bn) in transactions in 2021, more than doubling from INR 33.87 Lakh Cr in 2020.
