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 on an annual basis to 13.9 billion. This information has been given in the latest data of the National Payment Corporation of India (NPCI). However, the number of transactions is slightly less than the figure of 14 billion in May. This is because there are fewer days in June than in May. The total value of UPI transactions in June has increased by 36 percent on an annual basis to Rs 20.1 lakh crore. In May, the value of UPI transactions had increased by 37 percent on an annual basis to Rs 20.4 lakh crore.

According to NPCI data, the average number of transactions through UPI in June was 463 million per day and the average transaction amount was Rs 66,903 crore per day. The number of payments through Aadhaar has increased by 4% year-on-year and has reached 100 million.

However, the total payment value fell 5 per cent year-on-year to Rs 25,122 crore. The average daily transaction number 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 year-on-year 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 to UPI and the launch of UPI abroad as well.