After historic high, UPI transactions see marginal dip in June to 13.89 bn

IMPS down by 7%, FASTag 4%; but Aadhaar Enabled Payment System (AePS) see a 11% jump in volume & 7% in value

Unified Payment Interface (UPI) transactions saw a marginal dip of 1 per cent in volume and 2 per cent in value in the month of June when compared to May, when it had smashed all the previous records by processing 14.04 billion transactions worth Rs 20.45 trillion.

According to the data shared by the National Payments Corporation of India (NPCI) on Monday, in June 2024, UPI volume was seen at 13.89 billion and value at Rs 20.07 trillion.

This was a 49 per cent rise in volume and 36 per cent rise in value compared to the same month in 2023. May 2024 numbers were the highest in terms of value and volume since UPI turned operational in April 2016. 

The Immediate Payment Service (IMPS) transaction volume was down by 7 per cent in June at 517 million, as compared to 558 million in May. In value terms, IMPS transactions were down 5 per cent to Rs 5.78 trillion in June, as against Rs 6.06 trillion in May. This was seen at 550 million in volume and Rs 5.92 trillion in value in April. The June numbers were 10 per cent up in volume and 15 per cent in value compared to the same month last year.

FASTag transactions too saw a dip of 4 per cent during the month to 334 million, compared to 347 million in May. In value terms, this was seen down 2 per cent in June to Rs 5,780 crore versus Rs 5,908 crore in May. In April, FASTag was seen at 328 million and Rs 5,592 crore, respectively. The month saw a 6 per cent rise in volume and 11 per cent in value compared to June 2023. 

In June, Aadhaar Enabled Payment System (AePS) was up by 11 per cent in volume to 100 million in June as against 90 million in May and 95 million in April. In value terms too, it was up by 7 per cent to Rs 25,122 crore, as against Rs 23,417 crore in May. This was Rs 25,172 crore in April.