UPI transactions cross 5 billion mark for the first time in March 2022

Digital transactions under the government’s

United Payments Interface (UPI) have attained another major milestone in India. National Payments Corporation of India (NPCI) data has shown that Upi-based transactions crossed the five million transactions mark in March 2022. The data shared by the organisation shows that this feat took place just two days ahead of the month end on March 29. Interestingly, this milestone comes after Upi-based transactions witnessed a small dip in February this year. Statistics shared by the organisation at the time had shown a slight dip in February this year compared to January 2022. Data shared by NPCI showed that Upi-based transactions crossed the 420 million mark in February 2022 with the total transaction value to be around Rs 384,404 crores. Contrary to that, the number of Upi-based transactions in India stood at 440.17 million in January 2022 while the transaction value stood at Rs 3,87,006.73 crores.