UPI volume dips 2% to 782 mn in April, value of transactions up 6%: NPCI

Local players such as Paytm and PhonePe have been competing for market share in the digital payments space, facing stiff competition from global giants Google and WhatsApp

The volume of transactions through the Unified Payments Interface (UPI) — the government’s flagship payments platform — dipped marginally by 2 per cent on a monthly basis in April. However, the value of such transactions rose 6 per cent, shows data by the National Payments Corporation of India (NPCI).

The volume was 782 million in April, against nearly 800 million in March. At the same time, the value stood at Rs 1.42 trillion in April, against Rs 1.33 trillion in March.

For the government’s UPI app — Bharat Interface for Money (BHIM) — the volume of transactions was at 15.5 million and