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UPI records 4.18 Bn transactions in November

Unified payments interface or UPI has faced a slight decline in transactions in November as compared to the previous month. The digital payments railroad has registered 4.18 billion or 418 crore transactions amounting to Rs 7,68,436 crore in November whereas the figure was 4.21 billion or 421 crore transactions worth Rs 7,71,444 crore in the preceding month (October).

This is a 0.71% decline in transaction volume and 0.38% down in the value of the transaction. However, the average transaction volume and value of transactions in November was slightly higher than in October.

PhonePe has been leading in UPI volume and value since December 2020. The Walmart controlled company had registered 1937.57 million transactions worth Rs 3,65,845.39 crore in October as compared to Google Pay’s 1451.93 million amounting to Rs 2,87,491.46 crore. 

In terms of market share, PhonePe had 45.92% share in October while Google Pay had 34.41%. NPCI is yet to release the UPI breakup data for November.

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