UPI Transaction Volume Decreases by 1%, Value Falls by 2% in June
- UPI transactions saw a slight decline in June, dropping by 1% in volume and 2% in value compared to May, according to NPCI data.
- While UPI, IMPS, and FASTag reported decreases, AePS transactions grew by 11% in volume and 7% in value from the previous month.
Unified Payment Interface (UPI) transactions slightly decreased in June, with a 1% drop in volume and a 2% fall in value compared to May. According to data from the National Payments Corporation of India (NPCI), the transaction volume in June stood at INR 20.07 Lakh Cr, 1.9% lower than May’s INR 20.45 lakh crore.
Earlier this year, the governor of the Reserve Bank of India (RBI), Shaktikanta Das stated that India makes up almost 46% of global digital transactions, a surge credited to the widespread adoption of the UPI system.
As per reports, in June, the volume of Immediate Payment Service (IMPS) transactions also dipped by 7% to 517 million from 558 million in May, with the transaction value also dropping to Rs 5.78 lakh crore from Rs 6.06 lakh crore. Similarly, FASTag transactions fell by 4% to 334 million, and their value decreased to Rs 5,780 crore from Rs 5,908 crore.
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Conversely, Aadhaar Enabled Payment System (AePS) transactions increased by 11% in volume to 100 million and by 7% in value to Rs 25,122 crore, showing growth from May's 90 million transactions and Rs 23,417 crore respectively.
Back in April, UPI transactions decreased by 1% in volume and 0.7% in value compared to March 2024. The total transaction value dropped to Rs 19.64 lakh crore from Rs 19.78 lakh crore, with the number of transactions reducing from 13.44 billion in March to 13.3 billion in April.
Edited by Harshajit Sarmah
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