Unified Payments Interface (UPI) clocks new record in value and volume in March after a dip in February
- IBEF
- April 2, 2025
The Unified Payments Interface (UPI) recorded a new high in March, with transactions reaching 19.78 billion and a total value of Rs. 24,77,000 crore (US$ 289.26 billion). This marks a 13% rise in value and a 14% increase in volume from February, primarily due to year-end financial transactions, according to the National Payments Corporation of India (NPCI). For FY25, UPI transactions surged 30% in value to Rs. 2,60,56,000 crore (US$ 3.04 trillion) from Rs. 1,99,96,000 crore (US$ 2.33 trillion) in FY24, while transaction volume rose 42% to 185.85 billion from 131.14 billion.
Daily UPI transactions averaged 590 million in March, up from 575 million in February. Immediate Payment Service (IMPS) transactions also saw a 14% increase, reaching 462 million, while their value grew 19% to Rs. 6.68 trillion. Meanwhile, FASTag transactions fell slightly by 1.3% to 379 million, though their value increased by 3% to Rs. 6,800 crore (US$ 794.11 million). Aadhaar Enabled Payment System transactions rose 20% in volume to 113 million and 25% in value to Rs. 30,539 crore (US$ 5.37 billion). Industry experts see this sustained growth as a sign of increasing trust in digital financial solutions and deeper financial inclusion.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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