UPI sees 0.7% slip in Nov transactions

Transactions through unified payment interface fell 0.7% on month to 4.19 bln in November after rising for the previous five consecutive months.

The value of transactions also fell nearly 0.4% on month to 7.68 trln rupees in the reporting month.

The month-on-month dip in the volume of transactions was previously witnessed in May during the second wave of COVID-19.

On a positive note, the volume of transactions remained above the 4 blnmark and value remained above 7 trln-rupee-mark, both of which it touched for the first time in October.

The number of banks live on UPI interface rose to 274 in November from 261 in October. On a yearly basis, volume of transactions rose nearly 90%.