UPI transactions hit record high of ₹14.3 lakh cr in May
The number of UPI transactions increased to 941 crore in May compared with 889 crore in April.
The number of UPI transactions increased to 941 crore in May compared with 889 crore in April.
Bank account-to-account transactions continue to remain free for customers and merchants, says UPI operator NPCI.
UPI transactions have nearly doubled — in volume and value — since last year. PhonePe, Google Pay and Paytm are the three most used apps for financial transactions.
UPI transaction value for August jumps to ₹10.72 lakh crore.
The clarification comes days after the Reserve Bank of India (RBI) proposed a tiered charge framework for UPI payments.
UPI processed 595 crore transactions worth ₹10.41 lakh crore in May this year.