Total volume of UPI-transactions from Axis Bank Limited India 2020-2023

Published by Statista Research Department, Nov 20, 2023
In June 2023, the Axis Bank Ltd. acted as the remitter bank for over 422 million UPI-transactions in India. The bank recorded its peak of UPI-transactions in May 2023, with over 427 million.

Unified Payments Interface (UPI) is a product of the National Payments Corporation of India (NPCI) and was launched in 2016. It allows users of payment service providers like PhonePe or GooglePay to use NPCI as switch to connect with banks and transfer money. It is more user-friendly than older transaction modes such as IMPS.

Total volume of UPI- transactions from Axis Bank Limited in India from January 2020 to June 2023 (in millions)

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Release date

August 2023

Region

India

Survey time period

January 2020 to June 2023

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