UPI Sets Record with 24.51 Billion Transactions in August 2024
India's Unified Payments Interface recorded its highest-ever monthly transaction volume in August, reaching 24.51 billion transactions. Festive occasions such as Raksha Bandhan drove a surge in peer-to-peer transfers during the month. Transaction values also approached previous record highs, reflecting strong momentum in India's digital payments ecosystem. UPI has expanded its global footprint and is now accepted across eleven countries worldwide. Emerging use cases, including credit-based payment options within UPI, are expected to fuel further growth in the platform's adoption.
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