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.
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 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.
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.
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