UPI payments at record high in July

• Data released by the NCPI show that UPI payments recorded 1.5 billion transactions in July, the highest so far

• The number of transactions jumped from over 999 million in April to 1,497 million in July

• Total value of transactions touched a lifetime high of Rs 2.9 lakh crore

• The number of banks that are using the platform have increased from 146 in February to 164 in July

• Transaction volumes in March and April were down nearly 23%, compared to the pre-Covid months of January and February

Source: Deccan Herald

By Parth Chhaparwal

Incoming Associate Consultant at Bain & Co.