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India saw 9.36 bn Transactions worth Rs 10.2 trn in Q1 2022

Published on June 28, 2022
Current Context: As per the new report India saw 9.36 billion transactions amounting to Rs 10.25 trillion in the first quarter through various payment modes led by the Unified Payment Interface (UPI).
India saw 9.36 bn Transactions worth Rs 10.2 trn in Q1 2022
  • UPI Person to Merchant transactions emerged as the most preferred payment mode among consumers with a market share of 64% in volume and 50% in terms of value.
  • Apart from that, total UPI transactions touched over 14.55 billion transactions in volume and Rs 26.19 trillion in terms of value.
  • The top UPI apps in terms of volume were PhonePe, Google Pay, Paytm Payments Bank App, and Amazon Pay.
  • Among that Phone Pe, Google Pay, and Paytm accounted for 94.8 percent of UPI transactions.
  • Credit cards and debit cards account for 7% and 10% of transactions respectively.
  • Besides, consumers made 15.6 billion mobile-based payments whereas net banking/Internet browser-based transactions were over 1 billion.


Q.1 As per the latest report the UPI transaction touched _________billion transactions in the first quarter of FY22?
a. 8.21 billion
b. 9.36 billion
c. 10.21 billion
d. 7.18 billion
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