According to Worldline Report, UPI transaction volume soared by 52%, reaching 78.97 billion in the first half of 2024.
Banking & Finance
According to the Worldline report titled "India Digital Payments Report for 1H 2024," the Unified Payments Interface (UPI) has continued to dominate the digital payments landscape.
- In the first half of 2024 (from January to June), the total number of UPI transactions grew by 52% compared to the previous year, rising from 51.9 billion in the first half of 2023 to 78.97 billion in 2024.
- The report emphasized that electronic commerce (e-commerce), gaming utilities, government services, and financial services collectively represented nearly 81% of the total transaction volume and 74% of the transaction value.
Main Points:- (i) The report also noted that the value of these UPI transactions increased by 40%, going from Rs 83.16 trillion in the first half of 2023 to Rs 116.63 trillion in 2024.
(ii) Additionally, the number of UPI transactions rose significantly from 8.03 billion in January 2023 to 13.9 billion in June 2024. A similar trend was observed in the transaction value, which increased from Rs 12.98 trillion in January 2023 to Rs 20.07 trillion in June 2024.
CEO : Marc-Henri Desportes
CEO of Worldline India: Ramesh Narasimhan
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