UPI tops Rs 25 trn in July; IMPS transactions rise as FASTag volumes fall

UPI transactions in July climbed to 19.47 bn in volume and Rs 25.08 tn in value, with AePS and IMPS also rising while FASTag saw a dip in both volume and value

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Unified Payments Interface (UPI) transactions reached 19.47 billion in July, up 6 per cent from the previous month, marking the continuing popularity of the digital finance platform. The transactions were worth Rs 25.08 trillion, a 4 per cent increase in value.

 

As many as 18.4 billion transactions worth Rs 24.04 trillion took place in June, said the National Payments Corporation of India on Friday.

 

The value of UPI transactions dipped compared to the record high of Rs 25.14 trillion in May, when there were 18.68 billion transactions.

 

Daily transactions increased from 613 million in June to 628 million in July; their value increased from Rs 80,131 crore to Rs 80,919 crore. July UPI numbers increased 35 per cent up in volume and 22 per cent by value compared to the same month in 2024.

 

There were 482 million Immediate Payment Service (IMPS) transactions in July, up 8 per cent from 448 million in June. Such transactions were valued at Rs 6.31 trillion, up 4 per cent from Rs 6.06 trillion in June. There were 464 million IMPS transactions worth Rs 6.41 trillion in May.

 

IMPS numbers saw a 2 per cent decrease in volume and a 6 per cent increase in value compared to July 2024. The number of daily transactions increased from 14.94 million to 15.55 million, leading to a marginal rise in daily value from Rs 20,212 crore to Rs 20,368 crore.

 

FASTag transactions in July dipped 4 per cent to 371 million, compared to 386 million in June. Value dipped 2 per cent to Rs 6,669 crore, compared to Rs 6,783 crore in June. In May, the figures were seen at 404 million in volume, and Rs 7,087 crore in value.

 

July FASTag numbers saw a 15 per cent increase in volume and 20 per cent in value compared to the same month in the previous year. The number of daily transactions also declined from 12.88 million to 11.95 million, with a value of around Rs 215 crore, down from Rs 226 crore in June.

 

In July, Aadhaar Enabled Payment System (AePS) transactions stood at 103 million, up 6 per cent compared to 97 million in June. The value of transactions was Rs 26,585 crore, down marginally from Rs 26,616 crore in June.