New Delhi: The number of digital payment transactions in India touched 244.81 crore in August 2018, more than three-fold rise from October 2016, underlining the massive adoption of digital payment modes over the last two years, the IT Ministry said Friday.
New payment modes Bharat Interface for Money-Unified Payments Interface (BHIM-UPI), Aadhaar enabled Payment System (AePS) and National Electronic Toll Collection (NETC) have transformed digital payment ecosystem by increasing Person to Person (P2P) as well as Person to Merchant (P2M) payments, the statement by the Ministry of Electronics and Information Technology said.
The number of digital payment transactions zoomed 207 per cent to 244.81 crore in August 2018 as compared to 79.67 crore in October 2016, it said.