20.70 billion UPI transactions worth Rs 27.28 lakh cr recorded in October

Amid the GST 2.0 reforms, the unified payments interface (UPI) witnessed 25 per cent transaction count growth (year-on-year) at 20.70 billion in the month of October — along with registering 16 per cent annual growth in transaction amount at Rs 27.28 lakh crore, the National Payments Corporation of India (NPCI) data showed on Saturday.

Month-wise too, UPI witnessed a growth in transaction amount, from Rs 24.90 lakh crore in September.

Average daily transaction amount in October stood at Rs 87,993 crore, a significant rise from Rs 82,991 crore in



September, the NPCI data showed.

The month of October recorded 668 million average daily transaction counts, up from 654 million registered in September.

In September, the UPI saw 31 per cent transaction count growth (year-on-year) at 19.63 billion — with 21 per cent month-on-month growth in transaction amount at Rs 24.90 lakh crore (in August).

Monthly transactions via instant money transfer (IMPS) went up 2 per cent in October at 6.42 lakh crore (on-year), and up 6 per cent (on-month) from Rs 5.97 lakh crore in September, the data showed.