India, Aug. 1 -- UPI transaction volume rose 4% to 23.66 Bn in July from 22.72 Bn in June, according to data released by the National Payments Corporation of India (NPCI).

The total transaction value increased 3% to Rs.29.88 Lakh Cr during the month under review from Rs.28.92 Lakh Cr in June.

While transaction volume grew 22% YoY, transaction amount zoomed 19% on a yearly basis in July.

The average daily transaction count rose marginally to 763 Mn during the month under review from 757 Mn in June. Meanwhile, the average daily transaction value stood at Rs.96,383 Cr, slightly lower from Rs.96,405 Cr recorded in the previous month.

This comes at a time when the Centre is said to be reconsidering the introduction of merchant discount rat...