Global leader: UPI surpasses 3,700 transactions per second, up 58% on year

Quick Summary:

Unified Payments Interface (UPI) has emerged as the world's most popular alternative payment method, with 3729.1 transactions per second in 2023, shows data analysed by global payments hub Paysecure.

Transactions on UPI totalled Rs 20.64 lakh crore in July this year or about $247 billion.

The value of transactions processed has remained above Rs 20 lakh crore for three consecutive months now.

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Article Details

Category: BusinessFinance

Markets: IndiaBrazil

Topics: Digital payments Skrill Pix Central Bank of Brazil Online payments Alternative payment methods Mobile payments Cashless transactions National Payments Corporation of India (NPCI) Global payments Financial services Fintech UPI Technology

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-03 @ 10:37:05 (6 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 438 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 22341304

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About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 297 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

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News Language: English

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Publisher ID: #49

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