New Delhi|Kolkata: Unified Payments Interface (UPI) transactions more than doubled in value in July over the year-ago period, outstripping payment by cards, which went up 42%, according to the latest Reserve Bank of India (RBI) data.
UPI transactions by value touched their highest ever in July at Rs 6.06 lakh crore, surpassing the previous record of Rs 5.47 lakh crore in June and up from Rs 2.91 lakh crore a year ago. Card spending at Rs 1.36 lakh crore in July, on the other hand, was the highest since April and rose from Rs 95,883 crore in the year earlier as the economy recovered.
UPI platforms saw a 109% jump as consumers took to digital payments for daily essentials at local stores as well as premium purchases.
Source : https://economictimes.indiatimes.com/tech/technology/upi-transaction-value-doubled-to-rs-6-06-lakh-crore-in-july/articleshow/86592510.cms187