New Delhi. India has set a new record in the field of Unified Payment Interface (UPI) by leaving behind China and America. From April to July 2024, a total of Rs 81 lakh crore worth of transactions were done through UPI in India, which is the largest transaction ever done in the world by any digital payment platform.
The important thing is that the number of UPI transactions has increased by 37 percent compared to last year. The Indian UPI platform has surpassed China’s Alipay and America’s PayPal. This achievement has given a new direction to India’s digital payment ecosystem and has made India’s technological progress even more clear at the global level.
A report shows that 3,729.1 transactions are now taking place every second on the UPI platform, whereas till last year this number was 2,348 per second. This clearly means that UPI payments have increased by about 58 percent. In July this year, the total amount of transactions through UPI was Rs 20.6 lakh crore, which is the highest in any single month. Apart from this, UPI transactions have crossed the figure of Rs 20 lakh crore for three consecutive months. According to the report, India is at the forefront of digital payments in the world. Here more than 40 percent of the total digital transactions are done digitally, and most of these are done through UPI.