In the past few years, money transfer have become simpler and safer due to BHIM UPI, the National Payments Corporation of India (NPCI) said.
The Unified Payments Interface (UPI) transactions stood at ₹ 3.29 lakh crore in September with number of transactions at 180 crore, NPCI data showed on Thursday. The transactions were higher by over 10% from ₹ 2.98 lakh crore in August. Volume wise, it grew nearly 12% month-on-month. In the past few years, person-to-person and person-to-merchant money transfer have become simpler and safer due to BHIM UPI, the National Payments Corporation of India (NPCI) said in a tweet showing the monthly data transactions. Among others, NPCI said the NETC FASTag has facilitated safe and contactless payments of tolls and parking charges, making essential travel during lockdown safe and non-stop with ₹ 1,940.60 crore worth transactions at a volume of 11 crore. In August, the transactions were of ₹ 1,712.58 crore (9.68 crore in volume). Through the IMPS (Immediate Payment Service) mode of payment, transactions in September rose to ₹ 2.48 lakh crore from ₹ 2.35 lakh crore in August. The number of transactions grew to 27.96 crore from 24.61 crore. NPCI said the digital inclusion across the country is strengthening through Aadhaar-based biometric payments, AePS with transactions worth ₹ 17,351.66 crore in September.
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