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According to Worldline Report, UPI transaction volume soared by 52%, reaching 78.97 billion in the first half of 2024.

Banking & Finance | Dated: 25 Oct 2024

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.

🎯 Key Highlights:

  • - 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.

💡 Other Important Facts:

  • (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.

📚 Test Your Knowledge:

What was the total UPI transaction volume in the first half of 2024, as per the Worldline Report?

Correct Answer: 78.97 billion

🚀 Quick Recap:

About Worldline

  • CEO : Marc-Henri Desportes
  • CEO of Worldline India: Ramesh Narasimhan