UPI records 2.3 billion transactions worth Rs 4.2 trillion in Jan 2021: NITI Aayog CEO

As many as 2.3 billion transactions worth Rs 4.2 trillion were recorded through Unified Payment Interface (UPI) in the month of January this year, NITI Aayog CEO Amitabh Kant said on Wednesday.

Kant further said that UPI's transactions value jumped 76.5 per cent while transaction value jumped nearly 100 per cent.

"Phenomenal! UPI recorded 2.3 billion transactions worth Rs 4.3 trillion in Jan 2021. On a YOY basis, UPIs transaction value jumped 76.5 % while transaction value jumped nearly 100%. Took UPI 3 years to cross 1 billion transactions a month. Next billion came in less than a year," the NITI Aayog CEO tweeted.

UPI is a common system that powers multiple bank accounts into a mobile application, merging several banking features, seamless fund routing and merchant payments. It also caters to the "Peer to Peer" collect request which can be scheduled and paid as per requirement and convenience

( With inputs from ANI )