Slight decline in UPI transactions recorded in April compared to March

Mumbai: Unified Payment Interface (UPI) transactions declined by one percent in volume and 0.70 percent in value in April compared to March. Transactions worth Rs 19.64 trillion were completed in April compared to Rs 19.78 trillion in March. The number of transactions decreased from 13.44 billion to 13.30 billion.

There has been a significant increase in UPI transactions in April of the current year compared to April 2023.

It does not seem appropriate to compare the transactions of April with March because generally transactions through UPI are more in March. Most of the increase in transactions has been seen through UPI, which was introduced after demonetization.

As a result of digital adoption across the country, the use of UPI is increasing. UPI transaction volume grew by 50 percent and value by 40 percent year-on-year in April.