Mumbai: Monthly unified payments interface (UPI) transactions scaled an all-time high in June as India emerged from a devastating second wave of the Covid-19 pandemic.
After taking a beat in April and May, transactions through UPI hit a record high in volume as well as in value in June as localised lockdowns to contain COVID19 were eased, data released by National Payments Corp of India showed.

The transactions contracted in April and May as many states imposed lockdowns amid the second wave of the pandemic. The situation has eased since and so have the lockdown restrictions. UPI registered 2.8 bln transactions worth Rs 5.4 trln in June, 10.67 percent rise in volume and nearly 11.56 percent surge in value compared with May. On yearly basis, the jump was even sharper. UPI transactions in terms of value stood at Rs 2.6 trln in June 2020.

They had been rising steadily since then to top 5 trln rupees in March 2021. Transactions through Bharat Bill Pay stood at 45.47 mln worth Rs 79.35 bln in June, registering a growth of 16 percent in volume and 26.5 percent in value from May. FASTag transactions were at 157.86 mln in terms of volume and Rs 25.76 bln in value in June, 35.5 percent rise in volume and 21.2 percent surge in value compared with May.

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