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Unified Payment Interface (UPI) Transactions Decline Slightly in April

In April 2024, UPI transactions slightly declined, while IMPS, FASTag, and AePS transactions also saw decreases compared to March.

Piyush Shukla Published On May 2nd, 2024

UPI Breaks Record with 14.04 Billion Transactions in May, Sees 49% Year-on-Year Growth

In April 2024, Unified Payment Interface (UPI) transactions witnessed a marginal dip of 1% in volume and 0.7% in value compared to March. Despite this, year-on-year growth remains robust, with a 50% increase in volume and 40% in value. The dip in April is attributed to the typically higher transaction volumes in March.

Immediate Payment Service (IMPS) Transactions

IMPS transactions saw a decline of 7% in value and 5% in volume in April compared to March. However, there was an 11% increase in volume and 14% increase in value year-on-year.

FASTag Transactions

FASTag transactions decreased by 3% in volume and 6% in value in April. Despite this, there was an 8% increase in volume and 9% increase in value compared to April 2023.

Aadhaar Enabled Payment System (AePS) Transactions

AePS transactions experienced a decline of 13% in volume and 10% in value in April compared to March. Year-on-year, there was a decrease of 7% in volume and 15% in value compared to April 2023.