UPI volume scales new peak of 16.99 billion in January, shows NPCI data

The number of daily transactions for January stood at 14.33 million, up from 14.23 million in December, which translated into a daily transaction value of Rs 19,562 crore

Unified Payments Interface (UPI) transactions saw a marginal 1.6 per cent month-on-month increase in volume to 16.99 billion in January, up from 16.73 billion in December 2024. This was a new record in terms of volume, since the digital system became operational in April 2016. 

 

In November, the volume was seen at 15.48 billion. On the other hand, the value also increased by 1 per cent to Rs 23.48 trillion, up from Rs 23.25 trillion in December. This was seen at Rs 21.55 trillion in November, and Rs 23.5 trillion in October, the highest so far in terms of value, said data from the National Payments Corporation of India (NPCI). 

 

 

January saw a 39 per cent rise in volume, and 28 per cent value, compared to the same month last financial year. The average daily transactions during the month was 548 million, translating to around Rs 75,743 crore. 

 

Immediate Payment Service (IMPS) transactions were up by 0.7 per cent in January to 444 million, up from 441 million in December, and 408 million in November. In value terms too, this was up marginally to Rs 6.06 trillion in January, up from Rs 6.02 trillion in December, and Rs 5.58 trillion in November. In volume terms, this was a 13 per cent decline compared with last year and a 7 per cent rise in value versus January 2024.

 

The number of daily transactions for December stood at 14.33 million, up from 14.23 million in December, which translated into a daily transaction value of Rs 19,562 crore and volume during the month.

 

FASTag transactions declined by 0.5 per cent in volume to 380 million in January, compared to 382 million in December, and against 359 million in November. The value also dipped marginally to Rs 6,614 crore from Rs 6,642 crore in December. This was seen at Rs 6,070 crore in November. This was a 15 per cent growth in volume and 19 per cent in value compared with January 2024. The daily transactions in January declined to 12.27 million versus 12.32 million in December.

 

Aadhaar Enabled Payment System (AePS) transactions posted a marginal rise of 1 per cent from 93 million in December, to 94 million in January, which was also up from 92 million in November . The value of transactions also increased marginally to Rs 24,026 crore in January compared to Rs 24,020 crore in December. This was seen high at Rs 23,844 crore in November. 

 

The number of daily transactions was 3.03 million in January, up from 3.02 million in December. AePS transactions saw a 9 per cent rise in volume and 4 per cent in value compared with the year-ago period.