Business: UPI transactions grew 49 percent to 13.9 billion in June

New Delhi: The number of transactions through the Unified Payments Interface (UPI) platform in India has increased by 49 percent year-on-year to 13.9 billion. This information has been given in the data released by the National Payment Corporation of India (NPCI).

The number of transactions is slightly less than May’s 14 billion. This is because June has fewer days than May. The total value of UPI transactions in June has increased by 36 percent year-on-year to Rs 20.1 lakh crore. The value of UPI transactions in May was 20.4 lakh crore rupees, up 37 percent year-on-year.

According to NPCI data, the average number of transactions through UPI in June has been 463 million per day and the average transaction per day has been Rs 66,903 crore.

The number of payments through Aadhaar has increased by 4 percent year-on-year and has reached 100 million. However, the total payment value has fallen by 5 percent year-on-year to Rs 25,122 crore. The average number of transactions per day stood at 3.3 million and the average daily transaction value stood at Rs 837 crore.

The number of Fastag transactions in June increased by 6 percent year-on-year to 334 million. At the same time, the value of these transactions increased by 11 percent to Rs 5,780 crore. The reason for the increase in UPI transactions is the linking of RuPay credit card to UPI and the launch of UPI abroad as well.