Indias UPI processed transactions worth Rs 80.8 lakh crore from April to July this year, with July alone recording the highest

From April to July of this year, India's digital payment system, UPI, handled transactions of Rs 80.8 lakh crore (Rs 80,80,775.18 crore), with July alone reaching the most at Rs 20.6 lakh crore. 

The total amount of transactions handled via UPI in April was Rs 19.64 lakh crore, while in May and June, it was Rs 20.44 lakh crore and Rs 20.07 lakh crore. UPI handled transactions totalling Rs 137.28 lakh crore (Rs 1,37,28,081.73 crore) between January and July 2024. That is almost $1.636 trillion. In all, the nation saw 93.4 billion UPI transactions from the beginning of the year until July. 

Payment system activity for January was 12.2 billion, with subsequent months recording 12.10 billion, 13.44 billion, 13.30 billion, 14.03 billion, and 13.88 billion.

According to the survey, India is the global leader in digital transactions, accounting for over 40% of all payments done online, with UPI being utilised most of the time. 

The number of UPI transactions is predicted to more than triple from about 131 billion in 2023–2024 to 439 billion by 2028–2029, accounting for 91% of all retail digital transactions, according to research by consulting company PwC India.