• Terms and Conditions
  • Privacy Policy
  • DMCA
  • Disclaimer
  • Cookie Privacy Policy
  • Contact Us
Sixsense News
Advertisement
  • Home
  • Business
  • Economy
  • Fintech
  • Finance
  • Insurance
  • Market
  • Startups
No Result
View All Result
  • Home
  • Business
  • Economy
  • Fintech
  • Finance
  • Insurance
  • Market
  • Startups
No Result
View All Result
Sixsense News
No Result
View All Result
Home Uncategorized

upi milestone: UPI payment crosses Rs 11 lakh crore milestone in September

Sixsense News by Sixsense News
October 4, 2022
in Uncategorized
0


Payment through Unified Payments Interface (UPI) has crossed a milestone of Rs 11 lakh crore in September, as per the data released by National Payments Corporation of India (NPCI). During the month, 678 crore transactions in volume terms were done on the platform launched in 2016.

Payment through UPI had crossed Rs 10 lakh crore in May this year.

Related articles

The Kardashian Case: The Perils of Social Media Money Advice

October 7, 2022

An Interview with Jesse | Money Saving Mom®

October 7, 2022

Last month, as many as 657.9 crore transactions worth Rs 10.72 lakh crore had taken place.

UPI is an instant real-time payment system which facilitates inter-bank peer-to-peer (P2P) transactions. The transaction is done through mobile in easy steps. Besides, there are no charges applicable for the UPI transaction so far. Moreover, UPI has played a key role in the country becoming almost cashless economy.

The inexpensive medium for cashless transactions has been gaining traction month on month basis.

As per NPCI data, in June 2022, the transaction value under UPI digital payments moderated marginally at Rs 10,14,384 crore from Rs 10,41,506 crore in May. It increased to Rs 10,62,747 crore in July.

It is expected that payment through UPI would create another record both in terms of transaction and value in the festival month of October and November.

The key benefit of UPI is that it has done away with the inconvenience of third-party payments, Spice Money CEO Sanjeev Kumar said.

While services such as net banking, call for processes like OTP generation, which is also a major source of digital fraud in India, money can be moved between numerous accounts using UPI without the need for unique profiles for each transaction, he said.



Source link

Tags: crorecrosseslakhmilestonepaymentSeptemberupi

Related Posts

The Kardashian Case: The Perils of Social Media Money Advice

by Hal M. Bundrick, CFP®
October 7, 2022
0

The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services,...

An Interview with Jesse | Money Saving Mom®

by Crystal Paine
October 7, 2022
0

Published: by Crystal Paine on October 6, 2022  |  This post may contain affiliate links. Read my disclosure policy here. (A photo...

Will Your State Tax Student Debt Forgiveness?

by Cara Smith
October 7, 2022
0

Several states are poised to collect income taxes on student loan forgiveness — a move that could leave some borrowers...

HOT Deals on LEGO Sets!

by Gretchen
October 7, 2022
0

Published: by Gretchen on October 6, 2022  |  This post may contain affiliate links. Read my disclosure policy here.More Posts Like ThisChristmas...

*HOT* Melissa & Doug Let’s Play House Pretend Play Set only $16.99!

by Gretchen
October 7, 2022
0

Published: by Gretchen on October 6, 2022  |  This post may contain affiliate links. Read my disclosure policy here. This Melissa &...

Load More

Guide to Buying Property Insurance and Protecting Yourself from Roof Damage

March 30, 2023

China is now an unlikely safe haven

March 30, 2023

Four bankers who helped Putin’s friend set up Swiss bank account convicted By Reuters

March 30, 2023

Sustainable packaging startups to watch, according to VCs

March 30, 2023

Florence Raises $20M to Increase Clinical Capacity in Emergency Rooms with Technology While Modernizing the Patient Experience – AlleyWatch

March 30, 2023

Intel Stock Surges as New Chips to Be Ready Sooner. What Analysts Say.

March 30, 2023
Sixsense News

© 2022 Sixsense News All Rights Reserved.

Navigate Site

  • Terms and Conditions
  • Privacy Policy
  • DMCA
  • Disclaimer
  • Cookie Privacy Policy
  • Contact Us

Follow Us

No Result
View All Result
  • #3158 (no title)
  • Business
  • Economy
  • Finance
  • Fintech
  • Insurance
  • Market
  • Startups

© 2022 Sixsense News All Rights Reserved.