UPI Transactions Reduce 2 Per Cent In Value To Rs 20.07 Trillion In June

The data showed that the immediate payment service (IMPS) transaction volume decreased by 7 per cent in June to 517 million, down from 558 million in May

The FASTag transactions also declined by 4 per cent during the month to touch 334 million, down from 347 million a month earlier.

Unified Payment Interface (UPI) transactions clocked a marginal reduction in volume and value in June as compared to May, official data shared by the National Payments Corporation of India (NPCI) revealed on Monday.

The UPI transactions witnessed a slight fall of 1 per cent in volume and 2 per cent in value terms in in June, against May. During May, the UPI transactions hit fresh peak by processing 14.04 billion transactions worth Rs 20.45 trillion, reported Business Standard.

During June 2024, the UPI transactions volume touched 13.89 billion with a value at Rs 20.07 trillion. This surge marked a 49 per cent jump in volume and a 36 per cent gain in value as compared to the corresponding month a year earlier.

The numbers in May 2024 were the highest in value and volume terms since UPIs became operational in April 2016.

The data showed that the immediate payment service (IMPS) transaction volume decreased by 7 per cent in June to 517 million, down from 558 million in May. In terms of value, the IMPS transactions dipped 5 per cent to Rs 5.78 trillion in the month under review, against Rs 6.06 trillion in the preceding month this year.

The transactions touched 550 million in volume and Rs 5.92 trillion in value in April. The data in June increased 10 per cent in terms of volume and 15 per cent in value terms as compared to the corresponding month a year earlier.

The FASTag transactions also declined by 4 per cent during the month to touch 334 million, down from 347 million a month earlier. In terms of value, the transactions tanked 2 per cent in June to Rs 5,780 crore against Rs 5,908 crore logged in May. 

Earlier in April, the FASTag transactions touched 328 million and in terms of value stood at Rs 5,592 crore, respectively. 

The Aadhaar Enabled Payment System (AePS) surged 11 per cent in volume to 100 million in June, against 90 million in May and 95 million in April. In terms of value, the AePS transactions gained 7 per cent to Rs 25,122 crore in the month under review, against Rs 23,417 crore in the preceding month.