November 2, 2022
The transactions were 4.3% higher than the September FY23 figures
United Payment Interface (UPI) transactions in September FY23 stood at 6.7 billion in volume, and a value of INR 11.16 trillion
Immediate Payment Service (IMPS) reached about 480 million in volume and INR 4.66 trillion in value
Transactions by Aadhaar-enable Payment Systems (AePS) reached about 110 million in October this year
The number of United Payment Interface (UPI) transactions in October FY23 grew by 7.7% to reach 7.3 billion with the value reaching above INR 12.11 trillion, according to a report from the National Payments Corporation of India (NPCI).
The transactions were 4.3% higher than the previous month’s figures. UPI transactions in September FY23 stood at 6.7 billion in volume, and a value of INR 11.16 trillion.
Regarding other forms of transactions for October this year, IMPS reached about 480 million in volume and INR 4.66 trillion in value. According to the report, the transactions for IMPS grew by 4.3% from September 2022.
The National Electronic Toll Collection’s (NETC) FASTag, an automatic toll collection platform present in the government’s toll booths across India, saw a 9.3% increase in transactions from September FY23’s 280 million in volume. In terms of value, FASTag collections reached INR 4,451.87 crore in October FY23, compared to the previous month’s INR 4,244.76 crore.
On the other hand, transactions by AePS reached about 110 million in October this year, compared to 100 million transactions in the previous month. The value of AePS transactions in October FY23 increased to INR 31,112.63 crore, from the previous month’s INR 26,665.58 crore.
Source: Mint