According to data released on Thursday, the value of digital payments made through UPI increased to 10.73 lakh crore in August from the previous month.
The value of digital transactions based on UPI in July 2022 was 10.63 lakh crore.
According to statistics issued by the National Payments Corporation of India, the value of UPI transactions during August this year refers to a total of 6.57 billion (657 crores) transactions, up from 6.28 billion (628 crores) in the prior month (NPCI).
5.86 billion transactions totaling 10.14 lakh crore were made in June.
The immediate transfer-based IMPS, one of the other data sets on the NCPI framework, recorded transactions totaling 4.46 lakh crore and 46.69 crores in August.
Through a total of 46.08 crore transactions in July, it was valued at 4.45 lakh crore.
In August, transactions through the NETC FASTAG for automatic toll deduction at toll plazas totaled 4,245 crores, up from 4,162 crores the month before.
More than 27 crore transactions were involved in August compared to 26.5 crores in July in terms of the total number of transactions.
AePS, the Aadhaar-based payment system, transactions decreased by over 10% in August, from $30,199 to 27,186 crore, compared to the previous month. The number of transactions decreased to 10.56 crore from 11 crores.