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Worldline Report : UPI Transactions Volume Surged 52% to 78.97 billion in 1H of 2024

Published on October 25, 2024
Current Context: The Worldline India Digital Payments Report for the first half of 2024 revealed that the Unified Payments Interface (UPI) transactions volume surged by 52% year-on-year to 78.97 billion transactions from January to June 2024.
Worldline Report : UPI Transactions Volume Surged 52% to 78.97 billion in 1H of 2024
  • This significant increase highlights UPI's continued dominance in the digital payment landscape.
  • Key Highlights:
    • Transaction Volume: UPI transactions rose from 51.9 billion in the first half of 2023 to 78.97 billion in the first half of 2024.
    • Transaction Value: The value of UPI transactions increased by 40%, from Rs 83.16 trillion in the first half of 2023 to Rs 116.63 trillion in the first half of 2024.
    • Top UPI Apps: PhonePe, Google Pay, and Paytm remained the top players, collectively accounting for 94.83% of all transactions by volume.
    • Average Ticket Size (ATS): The ATS for all UPI transactions decreased by 8%, from Rs 1,603 in the first half of 2023 to Rs 1,478 in the first half of 2024.
    • Point of Sale (POS) Terminals: The number of POS terminals increased by 17%, from 7.65 million in January 2023 to 8.96 million in June 2024.

Question:

1 What was the total volume of UPI transactions in the first half of 2024 according to the Worldline India Digital Payments Report?

  • A) 51.9 billion
  • B) 78.97 billion
  • C) 83.16 trillion
  • D) 116.63 trillion
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