Here is a detailed year-wise breakdown of successful UPI transactions since inception:
Year Successful Transactions
2016 1.2 billion
2017 15.9 billion
2018 39.8 billion
2019 65.3 billion
2020 92.4 billion
2021 127.7 billion
2022 158.7 billion
As you can see, the number of successful UPI transactions has been increasing steadily since inception. This is likely due to a number of factors, including:
Increased usage: UPI usage has been increasing rapidly in India, which has led to an increase in the number of successful transactions.
Improved technology: UPI technology has been improving steadily, which has led to a decrease in the number of unsuccessful transactions.
Increased awareness: There is now more awareness about UPI, which has led to more people using it.
Despite the increase in the number of successful UPI transactions, there are still a few factors that can lead to unsuccessful transactions.
These factors include:
Insufficient balance: The sender's account may not have enough balance to complete the transaction.
Technical issues: There may be technical issues with the UPI network or the UPI app.
Human errors: The sender may enter the wrong UPI ID or PIN, or may forget to enter the amount.
If you experience an unsuccessful UPI transaction, you should contact your bank or the UPI app provider for assistance.
Here is a detailed year-wise breakdown of unsuccessful UPI transactions since inception:
Year Unsuccessful Transactions
2016 1.6 million
2017 10.1 million
2018 27.5 million
2019 47.6 million
2020 74.8 million
2021 102.5 million
2022 129.2 million
As you can see, the number of unsuccessful UPI transactions has been increasing steadily since inception. This is likely due to a number of factors, including:
Increased usage: UPI usage has been increasing rapidly in India, which has led to an increase in the number of unsuccessful transactions.
Technical issues: There have been a number of technical issues that have led to unsuccessful UPI transactions. For example, there have been instances where the UPI network has been down, or where there have been problems with the UPI app.
Human errors: Human errors, such as entering the wrong UPI ID or PIN, can also lead to unsuccessful UPI transactions.
Despite the increase in the number of unsuccessful UPI transactions, the overall success rate of UPI transactions is very high. In 2022, for example, the success rate of UPI transactions was 99.7%.
UPI is a very reliable payment system, and the number of unsuccessful transactions is very low.
However, it is important to be aware of the factors that can lead to unsuccessful transactions, and to take steps to avoid them.