New Delhi: Unified Payment Interface (UPI) transactions hit a new high in value in May. Data shared by the National Payments Corporation of India (NPCI) revealed this.
UPI platforms processed 14.04 billion transactions worth Rs 20.45 trillion . This was 6 per cent increase compared to 13.30 billion in April in terms of volume and 4 per cent in value terms against Rs 19.64 trillion in April.
The May figures were 49 per cent up in volume and 39 per cent up in value compared to the same month in 2023. May numbers were the highest in terms of value and volume since UPI turned operational in April 2016.
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Immediate Payment Service (IMPS) transaction amount was marginally up by 1.45 per cent in volume to 558 million in May, as against 550 million in April. In value terms it was up by 2.36 per cent to 6.06 trillion rupees in May, up from Rs 5.92 trillion in April. The May numbers saw a 12 per cent rise in volume and 15 per cent rise in value versus the same month last year.
FASTag transactions in May increased by 6 per cent to 347 million compared to 328 million in April. The value of FASTag transactions in May was seen at Rs 5,908 crore versus Rs 5,592 in April. The May numbers were 4 per cent higher in volume and 9 per cent in value compared to May 2023.
In May, Aadhaar Enabled Payment System (AePS) was down 4 per cent to 90 million compared to 95 million in April. In value terms too, it was down by 7 per cent to Rs 23,417 crore, as against Rs 25,172 crore in April.
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