UPI transactions dip marginally in April to Rs 19.64 trn; grow Y-o-Y

Unified Payment Interface (UPI) transactions declined in volume and value in April by 1 per cent and 0.7 per cent, compared to March 2024.

Transactions stood at Rs 19.64 trillion in value terms, down from Rs 19.78 trillion in March. There were 13.3 billion transactions in April, compared to 13.44 billion in March.

“UPI volumes and values continue to grow year-on-year (Y-o-Y), reflecting the ongoing focus on digital adoption across the country and the convenience that UPI offers. The month-on-month reduction is not a comparable factor, given that March typically sees higher volumes during the year, hence April 2024 figures are lower than those of March 2024,” said Vivek Ayer, partner at Grant Thornton Bharat.