UPI Transaction Fees 2023 | TodayPassion

 When the government initially introduced demonetization in 2016, the Center promoted paperless payments. Although cash is still king in today’s society, internet payments have expanded tremendously. The number of transactions peaked at 782 crores in 2022, signaling the end of the Unified Payments Interface (UPI). In December, UPI transactions hit a new high of Rs 12.82 lakh crore.



According to data issued by the National Payments Corporation of India (NPCI), the governing agency for retail digital payments, the volume of transactions increased by 7.12% in December compared to November, while the value of transactions increased by 7.73% during the same month. UPI payments hit the Rs 12 lakh crore mark in October 2022.

The amount and value of UPI transactions have increased considerably since the start of the epidemic and lockdowns two years ago. According to experts, UPI’s growth trend reflects the overall economy’s recovery and customers’ increasing usage of digital payment methods for regular transactions.

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