UPI transactions reach a record Rs 18.41 trillion in January: NPCI data

According to data shared by the National Payments Corporation of India (NPCI), January numbers were 52 per cent higher in volume compared to the same month last financial year

Unified Payment Interface (UPI) transactions clocked a new high in value in January by touching Rs 18.41 trillion, up marginally by 1 per cent from Rs 18.23 trillion in December. Transactions increased by 1.5 per cent to 12.20 billion, compared to 12.02 billion in October.

In November, value was seen at Rs 17.4 trillion with 11.4 billion transactions. According to data shared by the National Payments Corporation of India (NPCI), January numbers were 52 per cent higher in volume and 42 per cent higher in value compared to the same month last financial year.

The Immediate Payment Service (IMPS) transaction amount was down by 0.7 per cent during the month to Rs 5.66 trillion in January, compared to Rs 5.7 trillion in December. On the other hand, its transaction count was seen up by 2 per cent to 509 million during the month under review, up from 499 million in December. In November, transaction count was 472 million and value was Rs 5.35 trillion.

FASTag transactions in January dipped by 5 per cent from 348 million in December to 331 million in January. The value of FASTag transactions in January was seen at Rs 5,560 crore, down 5 per cent from Rs 5,861 crore in December. In November, this was seen at 321 million and Rs 5,303 crore, respectively. The January numbers were 10 per cent higher in volume and 16 per cent in value compared to January 2023.

In January, Aadhaar Enabled Payment System (AePS) was down by 8 per cent to Rs 23,057 crore, compared to Rs 25,162 crore in December. In volume terms, this was down from 95 million to 86 million in January. In November, value was seen at Rs 29,640 crore and volume at 110 million. However, AePS has seen a degrowth of 12 per cent in volume and 14 per cent in value during the same month last year.