New Delhi: The Unified Payments Interface (UPI) transaction crossed 9.41 billion in May this year. Data released by the National Payments Corporation of India (NPCI) revealed this. As per the data, the value of transactions hit nearly Rs 14 lakh crore.
This is a 2%rise in value (Rs 14.07 lakh crore) and 6% in volume (8.89 billion) compared to April, 2023. UPI had recorded 8 billion transactions in January this year, followed by 7.5 billion in February, 8.7 billion in March, and 8.89 billion in April. In Financial Year 2022-23, the payment system processed a total of 83 billion transactions, amounting to a value of 139 lakh crore rupees.
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As per the data, the Immediate Payment Service (IMPS) transactions witnessed a marginal rise of 1% to Rs 5.26 lakh crore, compared to Rs 5.21 lakh crore in April. During the same period, IMPS volume too increased marginally to 500 million in May as against 496 million in April. Aadhaar Enabled Payment System (AePS) declined 2.35% to 99.6 million in May, compared to 102 million in April. In value terms, this was seen at Rs 28,037 crore in May 2023, down 5.4% from Rs 29,649 crore in April.
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