BHIM UPI clocks over 171 million transactions

Bharat Interface for Money (BHIM) Unified Payments Interface (UPI) achieved 171.40 million transactions in the month of February. The total value of transactions stood at Rs. 19,126 crore with the average ticket size of Rs.1,116. UPI volume (UPI, BHIM and USSD 2.0 -*99#) during February, January and December 2017 were 171.40 million, 151.83 million and 145.64 million while the value stood at Rs.19,126 crore, Rs.15,571.2 crore and Rs.13,174.2 crore respectively. BHIM is a smart mobile phone based app that allows simple, easy and quick payment transactions using UPI. One can easily make direct bank to bank payments instantly and collect money using mobile number or payment address. It is a unique payment solution which empowers an individual with immediate send and collect request.

IMPS clocks over 99 million transactions

Immediate Payment Service (IMPS), the platform which works 24 X 7 has achieved 99.25 million transactions in the month of February 2018. The total value of transactions stood at Rs. 88,270.33 crore with the average ticket size at Rs.8,894. IMPS volume during February, January and December 2017 were 99.25 million, 99.59 million and 98.01 million while the value stood at Rs.88,270.33 crore, Rs.88,213.58 crore and Rs.87,106.19 crore respectively. IMPS provides robust and real time fund transfer service which offers an instant, 24X7, interbank electronic fund transfer service that could be accessed on multiple channels like Mobile, Internet, ATM, SMS and Branch. As on January 2018, total number of banks live on IMPS platform were 341.