Home Breaking News Explained: How UPI transaction values crossed $1-trillion in 2021-22

Explained: How UPI transaction values crossed $1-trillion in 2021-22

by Times One Odia
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Explained: How UPI transaction values crossed $1-trillion in 2021-22

The coronavirus pandemic and growing digital adoption in the country has seen UPI being used by increasingly larger numbers of Indians. It is now close to Rs 9 lakh crore in monthly transaction values.

https://images.indianexpress.com/2022/03/UPI-2.jpgUPI is expected to have played a key role in increasing the adoption of digital payments in the country. (File)

The Unified Payments Interface (UPI) crossed the $1-trillion mark in transaction values for the financial year 2021-22 after the payments system crossed 5 billion transactions in a month for the first time in March. This marks a major landmark for the flagship payments architecture which has gained significant momentum in adaptation in the last few years.

The coronavirus pandemic and growing digital adoption in the country has seen UPI being used by increasingly larger numbers of Indians. It is now close to Rs 9 lakh crore in monthly transaction values.

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