UPI transaction dips marginally in June to 13.89 billion after hitting a record high in May

The Unified Payment Interface transactions saw a marginal dip of 1% in volume and 2% in value in the month of June. This comes a month after hitting a record high of processing 14.04 billion transactions worth Rs 20.45 trillion. May 2024 numbers were the highest in terms of value and volume since UPI became operational in April 2016

UPI transaction in June

As per data shared by NPCI, in June 2024, UPI volume was seen at 13.89 billion and value at Rs 20.07 trillion. Compared to the same month in 2023, this was a 49% rise in volume and 36% rise in value. 

Meanwhile, the Immediate Payment Service (IMPS) transaction volume was down by 7% in June to 517 million, compared to 558 million in May. In terms of May, IMPS transactions were down 5% to Rs 5.78 trillion in June, as against Rs 6.06 trillion in May.

In terms of value, IMPS transactions were down 5% to Rs 5.78 trillion in June, as against Rs 6.06 trillion in May. In April, this was at 550 million in volume and Rs 5.92 trillion in value. The June numbers were 10% up in volume and 15% in value compared to the same month last year.

Also watch: UPI transactions in India soar: Highest ever transactions seen in December 2023