The Unified Payments Interface (UPI) witnessed a slight decline in both transaction volume and value in June. The platform processed 18.40 billion transactions during the month, down from 18.68 billion in May.
Further, the transaction value also dipped to Rs 24.04 lakh crore from Rs 25.14 lakh crore the previous month, according to data released by NPCI.
On a year-over-year basis, compared to June 2024, UPI transactions registered a 32 per cent spike in volume and a 20 per cent rise in value.
For FY24, UPI transactions surpassed the 100 billion mark, closing at 131 billion transactions worth Rs 199.89 trillion. In contrast, FY23 saw 83.76 billion transactions aggregating Rs 139 trillion, while FY22 recorded 45.97 billion transactions totaling Rs 84 trillion.
The data further said the FASTag transactions grew by 16 per cent YoY and recorded an MoM decline to 386 million in June from 404 million in May.
In value terms, transaction value decreased to Rs 67.93 billion in June from Rs 70.87 billion in May. The daily transaction count came down to 12.88 million in June from 13.05 million in May.
Immediate Payment Service (IMPS) transactions saw a 13 per cent YoY decline in volume, recorded at 464 million in May 2025 compared to 448 million in June 2025. IMPS transactions increased to Rs 6.06 trillion in June, compared to Rs 6.41 trillion in May. IMPS transaction value saw a 5 per cent growth in June on a yearly basis, less than in May 2025.
Aadhaar Enabled Payment System (AePS) transactions showed a de-growth of 3 per cent YoY, while the transaction also declined to 97 million in June from 105 million in May.
As of May, PhonePe and Google Pay continued to dominate the UPI ecosystem, collectively accounting for over 80 per cent of the market.