Unified Payment Interface (UPI) transactions witnessed a month-on-month (MoM) increase in July in terms of volume, closing at 19.47 billion. In June, the transactions were at 18.40 billion.
According to the latest data released by the National Payments Corporation of India (NPCI), in terms of value, UPI transactions in July amounted to Rs 25.08 trillion, increasing from Rs 24.04 trillion in June this year.
The average daily transactions have increased to 628 in July from 613 in June.
In July, the FASTag transactions grew by 15 per cent YoY and declined on month-on-month basis to 371 million in July from 386 million in June. Further, in value terms, transaction value also decreased to Rs 66.69 billion in July from Rs 67.93 billion in June.
Immediate Payment Service (IMPS) transactions saw a 2 per cent YoY decline in volume, recorded at 482 million in July 2025 compared to 448 million in June 2025.
In terms of value, IMPS transactions increased to Rs 6.31 trillion in July, compared to Rs 6.06 trillion in June. On a YoY basis, IMPS transaction value saw a 6 per cent growth in July, more than the yearly growth in June 2025.
Notably, from 1 August 2025, the NPCI has also released a new set of UPI rules. From limits on balance checks to revised autopay timings, these changes are designed to reduce system load, increase efficiency, and improve fraud protection without affecting users who follow the guidelines.
These rules will impact how users interact with UPI apps like Google Pay, PhonePe, Paytm, and others.