UPI crosses 10 billion transactions: The four biggest numbers

The Unified Payments Interface (UPI) achieved a significant milestone in August, recording over 10 billion transactions. The instant payment system, run by the National Payments Corporation of India (NPCI), allows users to transfer money to any bank account in real-time. The high volumes of transactions are driven by PhonePe, Google Pay, and Paytm. In terms of value, UPI settled Rs 15.7 lakh crore in August, slightly higher than July. The number of banks on the UPI platform currently stands at 473, and the system has witnessed significant growth in the past two years.

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