The technical decline rate on the UPI platform has now fallen to 0.8 percent.
The trend of increase in UPI transactions continues. According to data released by the National Payments Corporation of India (NPCI) in December 2024, transactions through the popular Unified Payments Interface (UPI) reached a record 16.73 billion in December, registering a growth of 8 percent compared to the previous month. . According to PTI news, in November, the number of UPI transactions was 15.48 billion. NPCI said the value of transactions stood at Rs 23.25 lakh crore in December 2024 compared to Rs 21.55 lakh crore in November.
Average daily transactions in December
According to the news, the average daily transaction count during December was 539.68 million, up from 516.07 million in November. In value terms, the average daily transaction in December stood at Rs 74,990 crore. This compared with Rs 71,840 crore in November. NPCI, an initiative of the Reserve Bank of India (RBI) and the Indian Banks Association (IBA), is an organization for operating retail payment and settlement systems in India. NPCI runs the Unified Payments Interface (UPI), which is used for real-time payments between peers or at the merchants end when making purchases.
Huge reduction in technical problems on UPI
According to the National Payments Corporation of India, the technical decline rate on the UPI platform has now fallen to 0.8 percent. NPCI payments ecosystem is considering shifting low-ticket transactions to UPI Lite, which will help reduce the pressure on servers. The rate of technological decline has reduced from 8-10 percent in 2016 to 0.7-0.8 percent. The total number of active unique users on the UPI platform currently stands at 40 crore.
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