UPI transactions in India increased by 49 percent in June says NPCI data

The number of transactions through the Unified Payments Interface (UPI) platform in India has increased by 49 percent year-on-year to 13.9 billion. This information has been given in the latest data of National Payment Corporation of India (NPCI). However, the number of transactions is slightly less than the May figure of 14 billion. The reason for this is that there are fewer days in June as compared to May. The total value of UPI transactions in June increased by 36 percent year-on-year to Rs 20.1 lakh crore. The value of UPI transactions in May increased by 37 per cent year-on-year to Rs 20.4 lakh crore.

According to NPCI data, the average number of transactions through UPI in June was 463 million per day with an average transaction value of Rs 66,903 crore per day. The number of payments made through Aadhaar has increased by 4 percent annually and has reached 100 million.

However, the total payment value declined by 5 percent on an annual basis to Rs 25,122 crore. The average daily transaction volume stood at 3.3 million and the average daily transaction value stood at Rs 837 crore.

The number of Fastag transactions in June has increased by 6 percent on an annual basis and stood at 334 million. At the same time, the value of these transactions increased by 11 percent to Rs 5,780 crore. The reason for the increase in UPI transactions is the linking of RuPay credit card with UPI and the launch of UPI in foreign countries as well.