India sees 657 crore UPI transactions in August FY23

Transaction volume and value grew by 4.5% and 0.95% respectively

September 2, 2022

In July this year, the transaction volume was 629 crore and the transaction value was INR 1.6 trillion

In June, United Payments Interface (UPI) transactions crossed 600 crore transactions in a month for the first time

Aadhaar-enabled Payment System AePS transactions reached 10.6 crore in August 2022, with a value of INR 27,186 crore

Growth in UPI transactions as well as their value increased by 84.6% and 67.9% year-on-year (YoY) respectively in August 2023

The Unified Payments Interface (UPI) network processed 657 crore transactions in August FY23, amounting to INR 10.73 trillion, according to data from the National Payments Corporation of India (NCPI), as reported by The Hindu Businessline. 

Transaction volume and value grew by 4.5% and 0.95% respectively on a month-on-month (MoM) basis from the previous month. During July this year, the transaction volume was 629 crore and the transaction value was INR 1.6 trillion.  

In June this year, UPI transactions crossed 600 crore transactions in a month for the first time. However, AePS transactions reached 10.6 crore in August 2022, with a value of INR 27,186 crore. 

According to the report, growth in UPI transactions and their value increased by 84.6% and 67.9% year-on-year (YoY) respectively in August 2023, from the same month, last year. This year, UPI transactions reached 4,481 crore worth INR 77.9 trillion. Comparatively, in FY22, 4,597 crore UPI transactions were conducted amounting to INR 84.2 trillion.