Rs 126 Lakh Crore Transactions through UPI in 2022, Reports Hike of 54 percent

Rozana Spokesman  | Amanat Thaper

News, Nation

Delhi Ranked at 2nd Spot in Digital Payments


NEW-DELHI: The Trend of digital payments in the country has grown rapidly in the pasfew years. UPI has played a major role in digitalization. Last year i.e. in 2022, 74 billion transactions worth Rs 126 lakh crore took place through UPI (Unified Payments Interface). On an annual basis, these figures are 54 percent higher in terms of value and 70 percent higher in terms of numbers.

In 2022, a total of 87.92 billion transactions worth Rs 149.5 lakh crore were made through tools such as UPI, debit-credit cards and prepaid payment instruments. In this, UPI Person-to-Merchant (P2M) and UPI Person-to-Person (P2P) remained the preferred payment medium. UPI P2P had the highest share in terms of value and volume at 44% and 66% respectively.

By December 2022, the number of Point of Sale (POS) machines across the country has increased by 37 percent to 75.5 lakh units. In terms of states with the highest number of POS, UP ranks 5th, Delhi ranks 6th and Punjab ranks 10th.

Delhi Ranked 2nd in Digital Payments....

City          Count        Value
Bangalore   2.9            65
Delhi          1.96           50
Mumbai     1.87           495
Pune         1.5            32.8
Chennai    1.43          35.5

(Number: in Crores, Value: in Billions of Rupees)

Highest Payouts from Top-5 Banks

- HDFC Bank
- Bank of Baroda
- Union Bank

Top-5 Banks in Payments

-  Paytm Payments Bank
-  Yes Bank
-  SBI
-  Axis Bank

Other Highlights from the Worldline Report:

-1.02 billion credit-debit cards issued by December, 2022.
- 2.76 billion transactions worth Rs 13.12 lakh crore through credit cards
- 3.64 billion transactions worth 7.4 lakh crore rupees through debit cards
- 5.87 billion transactions worth Rs 2.25 lakh crore through mobile wallets
- Aadhaar based payment service witnessed 2.63 billion transactions in 2022, valued at Rs Rs 3.42 lakh crore.