look news india
New Delhi: In the first six months of 2024, the number of transactions through instant payment system UPI in the country has increased by 52 percent year-on-year to 78.97 billion. Payment technology service provider 'Worldline' gave this information in a report.
The number of UPI transactions was 8.03 billion in January 2023, which has increased to 13.9 billion by June 2024. This increase in the number of transactions also coincides with an increase in payment value. Transactions through UPI in January 2023 were Rs 12.98 lakh crore, which increased to Rs 20.07 lakh crore in June 2024.
According to the report, the number of UPI transactions increased by 52 percent in the first half of 2024 compared to the same period last year.
The number of transactions in the first half of 2023 was 51.9 billion, which has increased to 78.97 billion in the same period of this year. During this period, the value of UPI transactions increased by 40 percent. This is Rs. Rs 83.16 lakh crore. 116.63 lakh crore.
The first half of the year saw an eight percent decline in the average ticket size (value per transaction) of UPI transactions. In the first half of last year, the average ticket size was Rs. 1,603 whereas in the first six months of this year it fell to Rs. It has come down to 1,478. The average ticket size includes person-to-person (P2P) and person-to-store (P2M) transactions.