NPCI hits 1 billion transaction mark in July

MUMBAI: National Payments Corporation of India ( NPCI) today said it achieved 1 billion transaction volume in July on the various payments systems it operates.

The transactions pertain to all types of payments handled by NPCI - from cheque and ATM clearing to IMPS, UPI, BHIM, RuPay, POS, e-commerce and also Aadhaar-based payments. Currently, the NPCI operates 12 payment systems.

"It is a great achievement to join the leagues of reputed payment institutions which process billions of transactions every month globally," NPCI managing director and CEO A P Hota said in a statement here.

He said highest growth has been seen in the mobile payments and Aadhaar-based payments.

"The next logical target can be a billion transactions a day - may be in three years," Hota said.

The NPCI started its services in January 2010 with monthly transaction volume of about 50 million.

Over the last 7 years of operations, transaction volumes on the NPCI platforms have grown approximately 20 times, the statement said.