India's UPI Shatters Records: January Transactions Top ₹28 Trillion

TECH

Overview

UPI transactions reached a record ₹28.33 trillion and 21.7 billion in volume during January. National Payments Corporation of India data shows a 21% increase from December, highlighting robust growth in India's digital payment ecosystem. Daily transactions averaged 700 million.

Digital Payment Dominance

Unified Payments Interface (UPI) transactions surged past ₹28.33 trillion in January, marking a new all-time high. This figure represents a substantial 21% month-on-month increase from December's ₹27.97 trillion, demonstrating sustained momentum in India's digital payment landscape.

Record Volume and Value

The total transaction volume in January reached an unprecedented 21.7 billion. Data from the National Payments Corporation of India (NPCI) further indicates that daily transactions averaged 700 million, with an average value recorded at ₹91,4033 crore. This consistent growth signals increasing consumer and merchant adoption.

Sustained Growth Trajectory

According to Worldline CEO Ramesh Narasimhan, the growth trajectory is robust, projecting a 28% year-on-year increase. This sustained expansion highlights UPI's integral role in India's financial ecosystem and its contribution to financial inclusion and digital economic activity. The platform continues to solidify its position as a preferred payment method for millions across the country.

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