 "UPI, mobile payments, cash transfer")
In yet another record-breaking month, India’s flagship digital payment platform, Unified Payments Interface (UPI), has processed transactions worth over Rs 10 trillion in May, a record high since the time it was launched in 2016. Even the number of transactions processed on the platform in May at 5.95 billion is a record high for the payments platform.
On a month-on-month basis, the volume of transactions was up 6.63 per cent and the value of transactions was up 5.91 per cent, despite a high base. In April, UPI had processed 5.58 billion transactions amounting to Rs 9.83 trillion. When compared on
