Unified Payment Interface (UPI) transactions hit a new record in January, reaching ₹18.41 trillion. This was a slight 1% rise from ₹18.23 trillion in December. The number of transactions also increased by 1.5%, rising to 12.20 billion from 12.02 billion in December.
UPI transactions were valued at ₹17.4 trillion in November, with 11.4 billion transactions. According to NPCI, the January figures were 52% more in volume and 42% higher in value compared to the same month last year.
The Immediate Payment Service (IMPS) saw a slight decline in transaction value, falling by 0.7% to₹5.66 trillion in January from ₹5.7 trillion in December. However, the number of IMPS transactions rose by 2%, reaching 509 million compared to 499 million in December. In November, IMPS transactions stood at 472 million, with a total value of ₹5.35 trillion.
FASTag transactions dropped by 5% in January, falling to 331 million from 348 million in December. The total value of these transactions also fell by 5% to₹5,560 crore, compared to₹5,861 crore in December. In November, FASTag transactions were at 321 million, with a value of ₹5,303 crore. Despite the decline from December, the January numbers were still 10% higher in volume and 16% higher in value compared to January 2023.
Aadhaar Enabled Payment System (AePS) transactions also declined, dropping by 8% to to₹23,057 crore in January from₹25,162 crore in December. The number of transactions fell from 95 million to 86 million in the same period. In November, AePS recorded transactions worth ₹29,640 crore with a volume of 110 million. Compared to last year’s month, AePS transactions have declined by 12% in volume and 14% in value.
UPI transactions soar to nearly 17 billion in January
