UPI transaction volume rises 52 per cent, value up 40 per cent in H1: Report

Transactions on the Unified Payment Interface (UPI) rose 52% year-on-year in terms of value and 40% y-o-y in terms of value in the first half of 2024, a report showed on Thursday.

According to the India Digital Payments report – H1 2024 by Worldline, the growth in UPI transactions was driven by a substantial rise in person-to-merchant (P2M) transactions. The P2M transactions, in terms of volume, grew to Rs 48.94 billion during January-June from Rs 29.15 billion in the same period a year ago. Meanwhile, in terms of value, they registered an increase of 62%, according to the report.