Ahmedabad: The trend of digital payment is continuously increasing in the country. Unified Payments Interface (UPI) has laid an important foundation in the architecture of Digital India. The UPI system reinforced this trend by setting a new record in 2024. According to data released by the Finance Ministry, a total of 15,547 crore transactions were done through the Unified Payment Interface (UPI) from January to November 2024, with a total value of more than a record Rs 223 lakh crore.
In October 2024, UPI set a new record for the most transactions, breaking all previous records. Last month there were 16.58 billion transactions, the total amount of which was Rs 23.50 lakh crore. This month i.e. November 2024 also saw a huge increase in UPI transactions.
There were 38 percent more transactions in November compared to last year. With 15.48 billion transactions in November 2024, the total amount will reach Rs. 21.55 lakh crore, which is 24 percent more than last year.
Earlier, the government had said in a statement that in the first seven months of 2024, the number of transactions done through UPI through RuPay credit cards has doubled as compared to last year. More than 75 crore transactions took place from April to October 2024, totaling Rs 63,825.8 crore.
It is noteworthy that the government had started the UPI transaction facility for RuPay credit cards in September 2022, which has now become quite popular. With this, people will now be able to easily make payments through UPI from their credit cards, which will make digital payments even easier. This innovative approach is likely to increase the use of UPI in the future.
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