UPI falls marginally in June to Rs 14.7 trn, with 9.33 transactions

Based on data from NPCI, compared to the same month last financial year, transaction volume rose by 59% and value by 45%

Transactions under the Unified Payment Interface (UPI) have dipped a marginal 1 per cent to Rs 14.75 trillion in June from Rs 14.89 trillion this May. In terms of volume too, there was a dip in transactions from 9.41 billion in May to 9.33 billion in June.  This is the first time since February this year that the UPI numbers have come down.

Based on data from the National Payments Corporation of India, compared to the same month last financial year, transaction volume increased by 59 per cent and value by 45 per cent. In June 2022, NPCI processed 5.86 billion transactions worth Rs 10.14 trillion. In April 2023, the numbers stood at 8.89 billion with a value of Rs 14.07 trillion. The last time UPI numbers were down was in February, when it dipped by 5 per cent in terms of value and 6 per cent in terms of volume.

Based on the data shared by NPCI, the Immediate Payment Service (IMPS) transactions were seen at 468.1 million in volume, with a value of Rs 5 trillion in June. In May, it was Rs 5.26 trillion in terms of value and 500 million in volume. In April 2023, it was Rs 5.21 trillion and 496 million respectively. The June 2023, the figures saw a 3 per cent growth in volume and 13 per cent in value on IMPS, compared to June 2022.

In the case of Fasttag transactions, the month saw a 6 per cent dip in volume from 335 million in May to 316 million in June. In terms of value, this decreased was by 4 per cent from Rs 5,437 crore in May to Rs 5,196 crore in June. This segment saw a 14 per cent volume growth and a 21 per cent value growth compared to that in April 2022. In March 2023, these numbers were 305 million transactions with a value of Rs 5,149 crore.

During the month under review, Aadhaar Enabled Payment System (AePS) saw a 4 per cent dip from 99.6 million in May to 96 million in June. In value, this was seen at Rs 26,526 crore, down 5 per cent compared to Rs 28,037 crore in May 2023. It was Rs 29,649 crore in April with 102 million transactions. On a year-on-year basis too, the AePS numbers were down by 21 per cent in volume and 18 per cent in value.