UPI Surpasses 10 Billion Monthly Transactions Mark

  • Unified Payments Interface (UPI) hit over 10 billion transactions in one month, a first in 7 years.
  • PhonePe remained the market leader in UPI transactions in terms of volume in July, with more than 47% share.
  • RBI and NPCI’s introduction of UPI Lite has encouraged digital payments, upping offline transaction limit from Rs 200 to Rs 500.
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