5th June 2023

UPI crosses 50 billion transactions milestone

The National Payments Corporation of India (NPCI) today announced that Unified Payments Interface (UPI) has crossed the 50 billion transactions milestone. This is a significant achievement for UPI, which has become the most popular digital payments platform in India.

UPI was launched in 2016 and has since grown rapidly. In the last financial year, UPI processed over 30 billion transactions, a growth of over 200%. In the current financial year, UPI has already processed over 20 billion transactions, and is on track to cross the 50 billion mark by the end of the year.

The growth of UPI is being driven by a number of factors, including its ease of use, convenience, and security. UPI allows users to make payments instantly and securely using their mobile phones. It is also free for users, which makes it an attractive option for both consumers and merchants.

The success of UPI is a testament to the vision of NPCI and the support of the Government of India. NPCI is committed to furthering the growth of digital payments in India and UPI will continue to play a key role in this journey.