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Detailed explanation-1: -"UPI has made major contribution in ushering digital payment revolution in the country. In December 2022, UPI has crossed 7.82 billion transactions worth ? 12.82 trillion, ” the Department of Financial Services said in a tweet on Monday.

Detailed explanation-2: -UPI sees highest-ever 782 cr transactions worth a record Rs 12.82 lakh crore in December 2022. Unified Payments Interface (UPI) payments touched a record high of Rs 12.82 lakh crore in December, up from Rs 11.90 lakh crore in November.

Detailed explanation-3: -According to NPCI data, approximately 74 billion transactions worth Rs 125.94 trillion were conducted using UPI in calendar year 2022. The platform handled more than 38 billion transactions totalling Rs 71.54 trillion in 2021.

Detailed explanation-4: -Further, India saw a total UPI transaction count of 7, 404.45 Cr in 2022, up 1.91X YoY. The number translates to nearly 2, 348 UPI transactions per second.

Detailed explanation-5: -In addition, depending on the bank’s guidelines, a person can initiate a maximum of 10 or 20 transactions per day via PhonePe UPI. The daily limit for UPI transfers is set at 20 transactions. After exceeding the limit, one must wait 24 hours before the limit can be renewed.