In April, Unified Payments Interface (UPI) transactions dipped slightly by 1 % compared to March, totaling 1,330 crore transactions as per data from the National Payments Corporation of India (NPCI).
Despite this monthly decline, there was a significant 50% increase in transactions year-on-year.
The transaction volume in April stood at Rs 19.64 lakh crore, down marginally from March's Rs 19.78 lakh crore. However, the year-on-year growth was robust at 40 %.
In February, UPI transactions recorded 1,210 crore with a transaction volume of Rs 18.28 lakh crore. January witnessed slightly higher figures with 1,220 crore transactions valued at Rs 18.41 lakh crore.
Looking back at 2023, there was a remarkable surge in UPI transactions, with a nearly 60 percent year-on-year increase, reaching a record 11,768 crore transactions. The total transaction value also grew impressively by over 40 % to Rs 182.84 lakh crore.
Moreover, India's payment infrastructure has expanded its footprint globally, extending to countries like Nepal, France, and New Zealand.
The NPCI, along with governmental initiatives, has been proactive in promoting UPI usage, continuously introducing new features and services to enhance its adoption.
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