Unified Payments Interface (UPI)recorded 16.73 billion exchanges worth Rs 23.25 lakh crore in December, marking an 8% increment in volume and a 7.88% rise in esteem compared to November.

On a year-on-year premise, this reflects a 39% year-on-year (YoY) growth in volume and a 28% increment in esteem, concurring to data discharged by NPCI(The National Payments Corporation of India).

The normal daily exchange number for December was 540 million, with a add up to everyday exchange esteem of Rs 74,990 crore. In November, the daily normal exchange check was 516 million, with a daily exchange esteem of Rs 71,840 crore. This upward drift proceeded from October 2024, when UPI handled 16.58 billion exchanges worth Rs 23.50 lakh crore.

PhonePeas of now leads the UPI showcase with about 48% share by exchange volume, taken after by Google Pay at 37% and Paytm at 7%. The showcase share is impossible to alter as NPCI has expanded the compliance timeline for Third Party App Providers (TPAPs) surpassing the volume cap in UPI. The due date has been expanded by two a long time, until December 31, 2026.

Meanwhile, NPCI has lifted the user onboarding constrain for WhatsApp Pay, permitting the stage to expand UPI administrations to its whole client base over the country.

Currently, UPI installments are acknowledged in seven nations, counting Bhutan, Mauritius, Nepal, Singapore, Sri Lanka, and France. Agreeing to media reports, NPCI is working to grow its administrations to Qatar, Thailand, and the broader Southeast Asian region.

source: entrackr.