UPI Transactions Reach Record High In May; Driven By Multiple Digital Payment Systems

Transactions on the Unified Payments Interface (UPI) hit an all-time high in May, reaching 18.68 billion in volume and ₹25.14 trillion in value, according to data released by the National Payments Corporation of India (NPCI) on Sunday.

This marks a significant milestone in India’s digital payments landscape.

Steady Growth From April And Year-on-Year Gains

Compared to April’s figures of 17.89 billion transactions worth ₹23.95 trillion, May saw a 4 per cent increase in volume and a 5 per cent rise in value.

Furthermore, on a year-on-year basis, UPI transaction volume jumped by 33 per cent while the value increased by 23 per cent, highlighting strong growth momentum.

The previous record was set in March 2025, with 18.3 billion transactions amounting to ₹24.77 trillion in value.

Daily transaction volumes also edged up from 596 million in April to 602 million in May, pushing the daily transaction value from ₹79,831 crore to ₹81,106 crore.

IMPS Transactions Show Moderate Growth

Immediate Payment Service (IMPS) transactions in May increased 3 per cent in volume to 464 million from 449 million in April.

Correspondingly, the transaction value rose 3 per cent from ₹6.22 trillion to ₹6.41 trillion.

However, compared to March’s 462 million transactions worth ₹6.67 trillion, May’s volume was slightly higher but value was lower.

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Despite this monthly growth, IMPS transactions in May 2025 were down 17 per cent in volume but rose 6 per cent in value compared to May 2024.

Daily IMPS transactions decreased slightly from 14.98 million in April to 14.96 million in May, causing a marginal drop in daily transaction value from ₹20,722 crore to ₹20,673 crore.

FASTag Transactions Continue Upward Trend

In contrast, FASTag transactions saw a 5 per cent increase in volume to 404 million in May, up from 383 million in April.

The transaction value also grew by 4 per cent, reaching ₹7,087 crore compared to ₹6,801 crore in April. March figures stood at 379 million transactions worth ₹6,800 crore.

Year-on-year, FASTag transactions in May rose 16 per cent in volume and 20 per cent in value compared to May 2024. Daily transactions increased from 12.75 million to 13.05 million, raising daily value from approximately ₹227 crore to ₹229 crore.

AePS Transactions Record Strong Gains

The Aadhaar Enabled Payment System (AePS) also demonstrated notable growth in May.

Transactions increased 11 per cent to 105 million from 95 million in April, with the transaction value rising 8 per cent from ₹26,618 crore to ₹28,703 crore.

Daily AePS transaction volumes reached 3.37 million in May, up from 3.18 million in April, while daily values climbed from ₹887 crore to ₹926 crore.

Compared to May 2024, AePS saw a 16 per cent increase in volume and a 23 per cent rise in value.