According to the National Payments Corporation of India (NPCI), UPI recorded 16.73 billion transactions during the month, an 8 per cent increase from November. The total value of these transactions also rose by 8 per cent, reaching Rs 23.25 trillion
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Despite a slight drop in November's transaction volume and value, UPI continues to grow at a robust pace, with impressive year-on-year growth and expanding international reach
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The Ministry of Finance adds that UPI has revolutionised digital payments in the country, with UPI transactions growing from 92 crores in FY 2017-18 to 13,116 crore in FY 2023-24, at a CAGR of 129 per cent
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