Once you had to go to banks to make cash transactions. Waiting in the queue for hours and depositing cash in the account. But now transactions are done in seconds with a single click. Apps like phone Pay, google Pay, etc. are already famous for transactions. All the banks are making UPI apps available in the same way. It is in this order that bank customers are more inclined to do UPI transactions. With time, bank customers are using these apps because of the user interface.
As a result, the number of people doing UPI transactions is gradually increasing every year. Statistics show that 12.8 lakh crore transactions were done through UPIs in december last year. And in january 2023, UPI-based transactions reached 803 crores. National Payments Corporation of india revealed that the value of these will be around 13 crores. NPCI has recently stated that 782 crore transactions took place in the previous month and the value of these transactions was Rs.12.8 lakh crore.
These figures stand to reason that digital payments have gained public acceptance in the country. Experts express the opinion that the indian economy will move towards a digital-first economy. Not only people in urban areas but also people in rural and semi-rural areas are also leaning towards wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital payments. phone Pay topped UPI payments in january 2023. Google Pay, and paytm bank apps are next.
Six lakh 51 thousand 108 crore transactions were done through phone Pay in January. Reports say that 4 lakh 43 thousand 725 crore transactions were done through google Pay. 1 lakh 39 thousand 773 transactions were done through Paytm. A total of 803 crore transactions were done in january and the payments under Rs.500 were 83.36 per cent. Rs. 500 to 2000 is 11.63%. Above 2000 the payment is only 5.01%.
