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UPI - World Leading Digital Payment platform
September 12 , 2024
19 hrs 0 min
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- The Unified Payments Interface, or UPI, has processed nearly Rs 81 lakh crore transactions in the April-July period this year.
- This surpasses the world’s leading digital payments platforms.
- This transaction number converts to a 37% increase on a year-over-year (YoY) basis.
- As per global payments hub Paysecure, UPI processed 3,729.1 transactions per second.
- It is a 58% surge over the 2,348 transactions every second registered in 2022.
- With this data, UPI has surpassed China’s Alipay, Paypal and Brazil’s PIX in the number of transactions processed.
- UPI processed 117.6 billion transactions in 2023 – the highest in the world.
- Some report forecasts a threefold increase in UPI transactions from 131 billion in 2023-24 to 439 billion by 2028-29.
- It is representing 91% of all retail digital transactions.
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