Riding high on festive season sales across ecommerce sites, instant payments platform Riding high on festive season sales across ecommerce sites, instant payments platform Unified Payments Interface (UPI) registered a 25% jump in transaction amounts settled, the highest increase this year.(UPI) registered a 25% jump in transaction amounts settled, the highest increase this year. UPI crossed 482 million transactions in October, up 19% from 405 million in September. The amount settled stood at almost Rs 74,978 crore against Rs 59,835 crore in September. Paytm, which offers a digital wallet service and operates a payments bank, was the largest contributor to UPI payments in India, processing about 180 million transactions in October, the company said in a press note. In addition, NPCI data showed that funds settled through the instant bank-to-bank fund transfer mechanism known has IMPS grew 12% to Rs 1.4 lakh crore in October from Rs 1.25 lakh crore in September. IMPS transactions increased 14% to 154.6 million from 135.7 million in the previous month.
UPI registers 25% increase in transaction amounts settled
