UPI transactions in Jan surpass 16.99 billion, value exceeds Rs 23.48 trn

UPI transactions in January surpassed 16.99 billion and the value exceeded Rs 23.48 trillion, marking the highest number recorded in any month, the Finance Ministry said on Thursday.

For 2023-24, the digital payments landscape has demonstrated remarkable expansion, the finance ministry said in a statement.

Unified Payments Interface (UPI) remains the cornerstone of India’s digital payment ecosystem, contributing to 80 per cent of the retail payments across the country, it said.