Mobile Payments Reaches Near Rs 200 Lakh Crore, UPI Transactions Increase

Payments from mobile have increased rapidly in the last few years in the country. In the second half of the previous year, the value of transactions was increased to Rs 198 lakh crore with the use of mobile phones. This is an increase of about 30 percent on a year-on-year basis. It has an increased stake of Unified Payments Interface (UPI) transactions.

A media Report According to, in the second half of the previous year, mobiles were about 14.5 percent more than the amount spent through payment credit and debit cards in the second half of the previous year. Transactions were about Rs 130 crore in transactions through UPI in payments from mobile. The strengthening of infrastructure associated with digital payments is a major reason behind this. UPI transactions are placed in two categories-Person-to-Person (P2P) and Person-to-CRINT (P2M). The average ticket size of all UPI transactions in the second half of the previous year was around Rs 1,515.

In December last year, the total value of transactions through UPI was about Rs 23.25 lakh crore. In the previous month, this figure was about 21.55 lakh crore rupees. The average value of these transactions per day in December was around Rs 74,990 crore. In the previous month, the figure was about Rs 71,840 crore. The National Payments Corporation of India (NPCI), which operates UPI, recently extended the volume limit for these transactions for two years. Apart from this, it was allowed to provide UPI services for all users of WhatsApp. NPCI had removed the limit to connecting UPI users on Whatsapp Pay. With this, all the users of WhatsApp in the country will get these payment services.

NPCI launched UPI One World Wallet Service for Non-resident Indians (NRI) and international travelers who visited the country. This will provide the facility to access the UPI by accessing the UPI who do not have an Indian bank account. The NPCI had said that the visitors of the country will be able to make digital payments safely to merchants with UPI One World Wallet. For this, foreign travelers and NRI will need to download a prepaid payment instrument-UPI app.