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UPI recorded 2.23 billion transactions worth Rs 4.16 trillion in December 2020 reports NPCI

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UPI recorded 2.23 billion transactions value Rs 4.16 trillion in December 2020 studies NPCI

It is a 1 p.c leap in quantity and a 6.4 p.c surge in worth for UPI from November which had seen 2.21 billion transactions value Rs 3,90,999 crore.

UPI recorded 2.23 billion transactions worth Rs 4.16 trillion in December 2020 reports NPCI

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Unified Funds Interface or UPI has crossed Rs 4 trillion value transactions in a month. The digital funds system has recorded 2.23 billion transactions amounting to Rs 4,16,176.21 crore or Rs 4.16 trillion in December 2020, in accordance to NPCI (Nationwide Funds Company of India). It is a one p.c leap in quantity and a 6.4 p.c surge in worth for UPI from November which had seen 2.21 billion transactions value Rs 3,90,999 crore.

Google Pay and PhonePe management greater than 80 p.c market share within the UPI ecosystem. As of November, Google Pay had the most important market share with 960.02 million transactions by way of UPI adopted by PhonePe’s 868.40 million. Nonetheless, PhonePe had processed extra transactions by way of worth throughout the month.

Information revealed by NPCI confirmed that PhonePe had recorded Rs 1,75,453.85 crore value transactions whereas Google Pay recorded Rs 1,61,418.19 crore by way of the worth of the transaction in November.

NPCI is but to publish the market share for UPI-enabled apps in December.

In November, NPCI had allowed one other participant to enter the UPI ecosystem. Fb-owned WhatsApp Pay was given the approval to go reside on UPI.

(Additionally Learn: WhatsApp companions with SBI, ICICI, Axis and HDFC financial institution for its cost service in India)

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