The number of Unified Payments Interface (UPI) transactions fell by 1% (month-on-month) to 1,330 crore in April, down from 1,344 crore seen in March. 

However, on a year-on-year basis, the transaction count increased by 50%. According to data from the National Payments Corporation of India (NPCI), the transaction volume in April was ₹19.64 lakh crore, down from ₹19.78 lakh crore in March. However, it soared 40% year-on-year. 

In February, transaction count and volume were seen at 1,210 crore and ₹18.28 lakh crore, respectively, while in January, it was 1,220 crore and ₹18.41 lakh crore, respectively. 

In 2023, the number of UPI transactions increased by almost 60% (year-on-year) to a record 11,768 crore, while the total value of UPI transactions grew by over 40% (year-on-year) to ₹182.84 lakh crore. 

Meanwhile, the Indian payment infrastructure has expanded to other countries such as Nepal, France, New Zealand, and more. The NPCI and the government have taken steps to increase UPI usage, with the NPCI actively introducing new features and services to improve its adoption. 

(Source: IANS)

-Edited for style

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