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In the fiscal year 2023-24, UPI transactions in India recorded an impressive 57% increase in volume and a 44% increase in value compared to the previous fiscal year 2022-23.
The value of UPI transactions has seen a considerable rise, from Rs 1 lakh crore in FY 2017-18 to Rs 139 lakh crore in FY 2022-23, marking a CAGR of 168%.
UPI crossed the 10 billion transactions milestone for the first time in August, from 9.9 billion transactions in July, according to data released by the NPCI. The total value of transactions in August stood at Rs 15.7 lakh crore.
Discover the workings of Conversational UPI, a revolutionary voice-based payment system set to transform digital transactions.
The partnership will enable subscription-based businesses to enhance customer acquisition, support retention, and facilitate rapid growth.