UPI recorded 2.23 billion transactions price Rs 4.16 trillion in December 2020 studies NPCI

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This is a 1 % bounce in quantity and a 6.4 % surge in worth for UPI from November which had seen 2.21 billion transactions price Rs 3,90,999 crore.

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Unified Payments Interface or UPI has crossed Rs 4 trillion price transactions in a month. The digital funds system has recorded 2.23 billion transactions amounting to Rs 4,16,176.21 crore or Rs 4.16 trillion in December 2020, according to NPCI (National Payments Corporation of India). This is a one % bounce in quantity and a 6.4 % surge in worth for UPI from November which had seen 2.21 billion transactions price Rs 3,90,999 crore.

Google Pay and PhonePe management greater than 80 % market share within the UPI ecosystem. As of November, Google Pay had the biggest market share with 960.02 million transactions via UPI adopted by PhonePe’s 868.40 million. However, PhonePe had processed extra transactions by way of worth throughout the month.

Data revealed by NPCI confirmed that PhonePe had recorded Rs 1,75,453.85 crore price transactions whereas Google Pay recorded Rs 1,61,418.19 crore by way of the worth of the transaction in November.

NPCI is but to publish the market share for UPI-enabled apps in December.

In November, NPCI had allowed one other participant to enter the UPI ecosystem. Facebook-owned WhatsApp Pay was given the approval to go reside on UPI.

(Also Read: WhatsApp partners with SBI, ICICI, Axis and HDFC bank for its payment service in India)

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