UPI Hits Record High: India's Digital Payment Surge

Unified Payments Interface (UPI) transactions in India reached a record Rs 24.77 lakh crore in March, showing a 12.7% increase from February and a 25% year-over-year surge. The growing figures highlight UPI's role in India's digital payments revolution, emphasized by Spice Money CEO Dilip Modi.

Unified Payments Interface (UPI) transactions in India surged to an unprecedented Rs 24.77 lakh crore in March, marking a 12.7% increase from February's figures, as per the National Payments Corporation of India (NPCI).

The UPI transaction value in February was Rs 21.96 lakh crore. From a year-on-year perspective, March's transactions represented a notable rise from Rs 19.78 lakh crore. The figures highlight the rapid growth of digital payments in India.

Dilip Modi, CEO of Spice Money, emphasized the significance of this growth, noting a 25% surge in value and a 36% increase in volume over the past year. With daily transactions averaging Rs 79,903 crore, this expansion reflects India's trust in digital financial solutions.

(With inputs from agencies.)