Friday, December 2, 2022

The nation is transitioning to a cashless economy; 84% of Digital Payment UPI were done using UPI; major payments were made via credit and debit cards, but minor payments were made via UPI or wallet.

The nation is quickly transitioning to a cashless economy. In the second quarter of the year, from April to June, there were a total of 20.57 billion digital transactions, according to a Worldline report. 83% of these transactions used Digital Payment UPI (UPI). The last quarter saw transactions worth a total of Rs 36.08 lakh crore, measured in volume. UPI had an 84% stake in this.

cashless economy

cashless economy 1

cashless economy2

Transactions worth Rs 11 lakh crore

in September through Digital Payment UPI. In September, a total of Rs 11.16 lakh throughout transactions were made in the nation using UPI, according to NPCI’s data on UPI payments. This number is greater than it was in August. 10.72 lakh crore worth of transactions were made over UPI in August.

768 crores, or 7.68 billion times, worth of transactions were made over UPI in September 2022. UPI payments of 657 crores, or 6.57 billion times, were made in August at the same time.

Read More: FD Return: According to the annual inflation rate, understand the FD returns of these 5 banks, see how you will get the benefit

🔥🔥 Join Our Group For All Information And Update, Also Follow me For Latest Information🔥🔥
🔥 YouTube                  Click Here
🔥 Facebook Page                  Click Here
🔥 Instagram                  Click Here
🔥 Telegram Channel                   Click Here
🔥 Google News                  Click Here
🔥 Twitter                  Click Here
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Latest

30th September Deadline Date: Do these three tasks by September! A significant loss could occur later

Financial Deadline: As of October 1, this PFRDA regulation will be in force. You only have 8 days left in this case if you...

The RBI announced that there will be a significant change starting on October 1 that might surprise cardholders.

Rules for Debit/Credit Cards: For individuals who use credit and debit cards, there is some exciting news. Nowadays, a debit or credit card is...

If you use an ATM card, you will receive 5 lakh rupees for free. How does this work?

Processing an ATM insurance claim: A person who has used an ATM card from any government or private bank for at least 45 days...

You must complete this step by September 30 if you use a credit-debit card.

The date for tokenization has been moved up from July 1, 2022, when the new regulations for debit and credit cards were scheduled to...

With Paytm Payment connections, the technique of digital payment is evolving. Retailers, freelancers, and social media merchants are among those that benefit.

Small companies can receive online payments from over 100 online payment providers across India using Paytm Payment Links. They don't need any knowledge on...

Most Popular

Subscribe

* indicates required