Unified Payment Interface (UPI) transactions decreased by 1% in volume and 2% in value in June compared to May, when it broke all prior records by completing 14.04 billion transactions worth Rs 20.45 trillion.
According to data published by the National Payments Corporation of India (NPCI) on Monday, UPI volume in June 2024 was 13.89 billion with a value of Rs 20.07 trillion. This was a 49% increase in volume and 36% increase in value over the same month in 2023. The May 2024 statistics were the greatest in terms of value and volume since UPI became operating in April 2016.
The Immediate Payment Service (IMPS) transaction volume fell by 7% in June to 517 million, compared to 558 million in May. In value terms, IMPS transactions fell 5% to Rs 5.78 trillion in June, compared to Rs 6.06 trillion in May. In April, this was worth Rs 5.92 trillion and had a volume of 550 million. In June, volume and value increased by 10% and 15%, respectively, compared to the same month previous year.
FASTag transactions fell 4% last month to 334 million from 347 million in May. In value terms, this fell 2% in June to Rs 5,780 crore from Rs 5,908 crore in May. In April, FASTag was valued at 328 million and Rs 5,592 crore correspondingly. In comparison to June 2023, the month's volume and value increased by 6% and 11%, respectively.
In June, the amount of Aadhaar Enabled Payment System (AePS) transactions increased by 11% to 100 million from 90 million in May and 95 million in April. In value terms, it was risen by 7% to Rs 25,122 crore, as against in May, the figure was Rs23,417 crore. This totaled Rs 25,172 crore in April.
