UPI payments rise 42% to Rs. 18 lakh crore in December

UPI transaction value went up 42% year-on-year to Rs 18 lakh crore in December, while volume rose 54% to 1,202 crore. The growth in UPI transaction volume stood at 7% when compared to the previous month.

Average daily transactions under UPI touched 40 crore against the targeted 100 crore in three years by NPCI earlier this year. The volume of Fastag transactions touched 34.8 crore in December, up 13% year-on-year.

The value of the transactions rose 19% to Rs 5,861 crore over the same period, and 10% higher than the Rs 5,539 crore recorded in November 2023 as Indians took to the road in record numbers during the Christmas vacation. The transaction count was 8% higher.