In December, transactions via the widely used Unified Payments Interface (UPI) reached an impressive 16.73 billion, reflecting an 8% increase compared to the previous month, as per data disclosed by the National Payments Corporation of India (NPCI). The transaction count in November was 15.48 billion. NPCI reported that the transaction value soared to Rs 23.25 lakh crore in December 2024, up from Rs 21.55 lakh crore in November. The average daily transaction volume for December was 539.68 million, an increase from 516.07 million in November.
In terms of value, the average daily transaction stood at Rs 74,990 crore in December, compared to Rs 71,840 crore in November. NPCI, which operates under the aegis of the Reserve Bank of India (RBI) and the Indian Banks’ Association, serves as the overarching body for managing retail payment systems and settlements across India. NPCI operates the Unified Payments Interface (UPI), enabling seamless and real-time transactions between users and merchants during purchases.
