Daijiworld Media Network – New Delhi

New Delhi, Jun 2: The Unified Payments Interface (UPI) witnessed a strong rebound in May, processing 18.68 billion transactions up from 17.89 billion in April according to data released by the National Payments Corporation of India (NPCI).

The figures mark a 33% year-on-year surge from 14.03 billion transactions recorded in May 2024. In terms of value, UPI transactions touched Rs 25.14 lac cr last month, registering a 5% rise from April’s Rs 23.95 lac cr and a 23% increase from Rs 20.45 la cr in May last year.

The average daily volume of transactions stood at 602 million, while the average daily value touched Rs 81,106 cr.

UPI now commands 83.7% of the country’s total digital transaction volume in 2024-25, up from 79.7% in the previous financial year. The Reserve Bank of India (RBI), in its latest annual report, noted that UPI facilitated 185.8 billion transactions in FY25, a 41% rise from the previous year. The value of these transactions jumped to Rs 261 lac cr, from Rs 200 lac cr in FY24.

“The success of UPI placed India in a leadership position with a share of 48.5% in global real-time payments by volume,” the RBI said.

Total digital payments across the country, which includes card networks, PPIs, and other systems, grew 35% year-on-year to 221.9 billion in FY25. In value terms, this translated to Rs 2,862 lac cr, marking a 17.97% increase.

The RBI has reiterated its goal of extending UPI services to 20 countries by 2028–29. Indian UPI apps are currently accepted in Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the UAE, enabling users to make merchant payments abroad via QR codes.