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Digital payments see muted growth in April
Surabhi
Mumbai |
Updated on
Transactions on UPI too were down The growth of digital transactions eased in April at a time of localised lockdowns in several states amidst surging Covid-19 cases. The volume and value of transactions however, remained higher than that in February.
According to data released by the National Payments Corporation of India on Saturday, transactions on the Unified Payments Interface (UPI) in April scaled down from the ₹5 lakh crore peak it had touched in March.
As many as 264 crore transactions worth ₹4.93 lakh crore were processed on UPI in April 2021 versus 273 crore payments amounting to ₹5.04 lakh crore in March this year.
UPI transactions cross ₹5 lakh crore in March
Surabhi
Mumbai |
Updated on
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Unified Payments Interface (UPI), the flagship digital payment platform, touched a new high in March and crossed the ₹5 lakh crore mark in terms of value.
Data released by the National Payments Corporation of India on Thursday revealed that UPI processed payments worth ₹5.04 lakh crore in March this year, totalling 273 crore transactions in terms of volume.
Previously in February, UPI had processed payments amounting to ₹4.25 lakh crore through 229 crore transactions.
According to the government’s DigiDhan dashboard, BHIM UPI has emerged as the most popular means of digital payments amounting to 38.77 per cent of all such payments in 2020-21.
PhonePe maintains market leadership in digital payments
March 02, 2021
Processes 107 crore transactions across UPI, cards and wallets in February. PhonePe said it continues to maintain its market leadership with 97 crore UPI transactions processed in February. In all, it processed 107 crore transactions across UPI, cards and wallets last month.
“PhonePe processed more than a billion transactions for the third consecutive month in February and continues to lead the digital payments market across UPI, credit and debit card and wallets in India,” the company said in a statement.
It attributed its growth to the rapid expansion in offline payments across Tier 2, Tier 3 cities, having already digitised over 17.5 million kiranas.
Transactions via UPI, IMPS register marginal decline in Feb
Surabhi
Mumbai |
Updated on
Transactions on FASTags, Bharat BillPay climb new highs
Digital payments modes such as Unified Payments Interface, IMPS and AePS registered a marginal decline in February, but continued at robust levels.
BHIM UPI clocked 229 crore transactions worth ₹4.25-lakh crore in February this year, according to data released by the National Payments Corporation of India on Monday. In contrast, 230 crore transactions, worth ₹4.31-lakh crore, were processed through UPI in January 2021.
February 2021 was the first month that registered a drop in the volume and value of transactions on the UPI and IMPS platform since April 2020.