UPI transactions rise 7.7% to 730 crore in October

Transactions through Unified Payments Interface (UPI) rose 7.7 per cent to 730 crore and the total value stood at more than ₹12.11 lakh crore in October.

In September, there were 678 crore UPI-led digital transactions worth ₹11.16 lakh crore.

The number of instant interbank fund transfer through IMPS (Immediate Payment Service) in October stood at 48.25 crore and the value was at ₹4.66 lakh crore. In terms of transactions, it was higher by 4.3 per cent compared to September, according to the monthly data from the National Payments Corporation of India (NPCI) released on Tuesday (November 1).

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The NETC FASTag, which facilitates automatic toll collection at NHAI’s toll booths across the country, registered a 9.3 per cent growth in the number of transactions compared to 28.3 crore in September.

The corresponding value of transactions stood at ₹4,451.87 crore in October as against ₹4,244.76 crore in September.

While the Aadhaar card-enabled AePS which facilitates easy, quick and safe banking transactions, increased to 11.77 crore in October compared to 10.27 crore in previous month.

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The value of AePS transactions rose to ₹31,112.63 crore from ₹26,665.58 crore. NPCI is an umbrella organisation for all retail payments system in India.

(With inputs from agencies)