UPI daily transactions cross 800 million for first time in September
UPI processed 24.07 billion transactions worth Rs 29.37 lakh crore in September, NPCI data shows. Average daily transactions crossed 800 million for the first time.
Monthly volume fell 1.8 percent from August’s record 24.51 billion. The dip reflects the calendar, as September had 30 days against August’s 31.
On a daily basis, activity actually rose. UPI handled about 802 million transactions a day in September, up 1.4 percent from 791 million in August. Daily value hit a record Rs 97,913 crore.
Year on year, volume grew 23 percent and value rose 18 percent. PhonePe led August volumes with 45.64 percent, followed by Google Pay at 32.26 percent.
The revised UPI merchant discount rate framework takes effect on October 15. It applies 0.4 percent on specified person-to-merchant transactions above Rs 2,000.
Traders withdrew a call to observe October 2 as No UPI Day after meeting Finance Minister Nirmala Sitharaman. The Supreme Court declined to stay the MDR rollout on September 28. Person-to-person transfers remain completely free of any charge.
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