UPI in Aug: Digital gold purchases value tick up

The value of digital gold transactions through the Unified Payments Interface (UPI) saw a marginal rise in August, while the value of securities brokers and dealer transactions declined.

The overall value of merchant category-wise purchases via UPI fell to Rs 8.95 lakh crore in August from Rs 9.07 lakh crore in July, even as transaction volumes rose to 15,510.01 million from 14,971.85 million over the same period, according to data released by the National Payments Corporation of India (NPCI).

Groceries and supermarkets, which account for the largest share of UPI merchant spends, recorded 3,995.82 million transactions worth Rs 86,881.84 crore in August, up from 3,845.91 million transactions worth Rs 82,144.98 crore in July, a rise of 3.90% in volume and 5.77% in value.

Digital gold purchases via UPI grew marginally to Rs 2,488.52 crore in August from Rs 2,465.14 crore in July, up 0.95%, with volumes rising 2.77% to 249.21 million transactions.

Meanwhile, the securities broker and dealer transactions via UPI, fell to Rs 63,667.21 crore in August from Rs 73,752.37 crore in July, a decline of 13.67%, even as the number of transactions edged up 1.69% to 84.12 million from 82.72 million.

Debt collection agencies saw transaction value rise to Rs 73,983.41 crore in August from Rs 70,718.17 crore in July, up 4.62%, on the back of a 3.36% increase in volumes to 214.98 million.

Men's, women's and children's uniforms and commercial clothing recorded 79.04 million transactions worth Rs 7,338.60 crore in August against 69.58 million transactions worth Rs 6,220.13 crore in July, a jump of 17.98% in value. The family clothing shops category also saw a rise, with transactions climbing to 98.45 million worth Rs 8,724.28 crore in August from 80.24 million worth Rs 6,789.75 crore in July, up 28.49% in value.

Online marketplaces recorded 185.96 million transactions worth Rs 9,961.23 crore in August, compared with 180.72 million transactions worth Rs 10,224.28 crore in July, a decline of 2.57% in value despite a 2.90% rise in volume.

Fast food restaurants logged 1,517.37 million transactions worth Rs 18,506.83 crore in August versus 1,478.40 million transactions worth Rs 17,561.96 crore in July, while eating places and restaurants recorded 1,300.07 million transactions worth Rs 22,662.96 crore in August against 1,269.06 million transactions worth Rs 21,741.86 crore in July.

Service stations registered 772.90 million transactions worth Rs 44,193.12 crore in August compared with 742.84 million transactions worth Rs 45,057.75 crore in July, a fall of 1.92% in value despite higher volumes. Utilities recorded 149.57 million transactions worth Rs 24,636.11 crore in August versus 146.30 million transactions worth Rs 25,341.09 crore in July, down 2.78% in value.

Telecommunication services logged 817.79 million transactions worth Rs 23,261.73 crore in August against 837.70 million transactions worth Rs 23,640.71 crore in July, down 1.60%.

Electronics shops saw 82.18 million transactions worth Rs 11,112.68 crore in August compared with 82.80 million transactions worth Rs 11,321.72 crore in July. Government services (NEC) recorded 152.58 million transactions worth Rs 11,031.82 crore in August versus 154.23 million transactions worth Rs 12,346.59 crore in July, a decline of 10.65% in value.

Drug stores and pharmacies recorded 335.88 million transactions worth Rs 13,865.97 crore in August compared with 311.94 million transactions worth Rs 13,157.06 crore in July, up 5.39%.