UPI & USSD txns see exponential growth while card txns dip in January: RBI data

Data released by the Reserve Bank of India shows that the number of transactions on Unified Payments Interface (UPI) jumped 560% between December and November last year and 110% between January and December.

On the other hand, Unstructured Supplementary Service Data (USSD) shot up 1,360% between November and December and buoyed the January to December jump to 207.5%.

Transactions on UPI jumped to 4.2 million for January against 0.3 million in November while that on USSD leapfrogged to 3,14,000 in January from 7,000 in November.

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