In a groundbreaking development, UPI payments in 2023 have achieved unprecedented success, setting new records in both transaction count and overall value. The latest data showcases a remarkable surge in UPI transactions, signaling a significant shift towards digital transactions in India.
UPI ended 2023 at a high, setting new records in transaction count and value. In December, there were over 1,200 crore transactions worth more than Rs 18 lakh crore. This is a marginal Increase compared to November's already peaked Rs 17.4 lakh crore. Data from NPCI shows that in 2023, there were over 11,765 UPI transactions worth Rs 182.2 lakh crore, a 59% increase in volume and a 45% increase in value compared to 2022
The increasing adoption of UPI-based payments, emphasizing the technology's role in shaping the country's financial landscape. As the transaction count and value reach new highs, this news underscores the growing reliance on digital payment platforms, marking a transformative phase in the way financial transactions are conducted in India.