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The growth was 39% from a year earlier.
The value of these transactions totalled Rs 23.25 lakh crore, compared with Rs 21.55 lakh crore in the previous month, according to data released by NPCI on January 1.
The average daily transaction count in December rose to around 540 million from 516 million in November.
Although app-wise data for December is not yet available, Walmart-owned PhonePe led the market in November with a 48% share in UPI transactions, followed by Google Pay and Paytm. This market concentration is unlikely to shift significantly in the near future, as NPCI extended the deadline for UPI providers to comply with the 30% market share cap by two more years. The new deadline is December 31, 2026.
The regulation, proposed in 2020, was designed to prevent any third-party app provider to have more than 30% of total UPI transaction volumes.
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According to NPCI data, the Immediate Payment Service (IMPS) that allows users to transfer funds real time between banks recorded 441 million transactions in December, amounting to Rs 6.02 lakh crore. Among other payment methods, the Aadhaar-Enabled Payment System (AePS) processed around 93 million transactions, remaining flat from the month before, while Fastag posted volume of 382 million.In a separate press release issued on Tuesday, NPCI announced the removal of the user limit on WhatsApp Pay for its UPI-based payment application, which was previously capped at 100 million users.
For the fiscal year 2024, NPCI reported a 37% increase in net profit at Rs 1,134 crore. Revenue rose 42% to Rs 3,278 crore on a consolidated basis.
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