As per the latest data released by National Payment Council of India (NPCI), the increasing number of UPI transactions, and considering the holiday season ahead. The report shows, over 4.27 billion UPI transactions have already taken place in the first 60 days of ongoing Q4 2020.
It is fact that, e-commerce platforms have contributed to this, especially in the festive season. In the next 30 days, factoring that people make a lot more transactions during the holiday season, another 2.3 billion UPI transactions will easily be added in December, taking the total tally to estimated 6.5 billion.
The transactions had crossed the two billion mark in October, and amounted to Rs 3.86 trillion in all, rose to 2.21 billion in numbers and Rs 3.91 trillion in value in November.
NPCI is bringing various innovations and recently launched National International Payment Limited (NIPL) and soon the company may launch UPI payment in emerging markets such as Middle East and Africa, which has shown a keen interetest in adopting the digital payment system.
