India digital payments revolution has hit another massive milestone. According to the latest data released by the National Payments Corporation of India (NPCI) the average daily transaction value on the Unified Payments Interface (UPI) crossed the historic ₹1 lakh crore mark for the very first time in October.
During the festive month people across the country used UPI to process an average of ₹1,01,707 crore every single day. Driven by heavy festive shopping total monthly transactions reached an all time high of ₹31.53 lakh crore crossing the ₹30 lakh crore threshold in a single month for the first time ever.
In total UPI handled 25.47 billion transactions in October with daily volumes jumping to an average of 822 million transactions per day. Experts say this massive jump clearly shows how digital payments have deeply changed everyday buying habits in India, from local street vendors to big online malls.
