Reported by: banking|Updated: November 4, 2019
The National Payments Corporation of India said UPI transactions have crossed the landmark figure of 1 billion in October 2019. The total transactions of UPI jumped to 1.15 billion in October 2019 from 0.96 billion in September 2019. Similarly, total transaction value of UPI stood at Rs 1.91 lakh crore in October 2019 compared to Rs 1.61 lakh crore in September 2019. Dilip Asbe, MD and CEO of NPCI, said this momentous achievement is a result of the continued support that UPI has received from the ecosystem including banks and third-party payment apps and the policy initiatives by government and RBI in the digital payments. He added NPCI’s focus will always remain on enhancing acceptance infrastructure for digital payments so as to encourage customers towards digital transactions to achieve RBI and government’s less cash objective and facilitate faster adoption of UPI.