Unified Payments Interface (UPI) numbers hit all-time high in May, cross Rs. 25,00,000 crore (US$ 292.57 billion) for the first time

Transactions on the Unified Payments Interface (UPI) reached a new milestone in May 2025, touching 18.68 billion in volume and Rs. 25,14,000 crore (US$ 294.21 billion) in value, according to data released by the National Payments Corporation of India (NPCI). This represented a 4% MoM rise in volume and a 5% increase in value over April’s 17.89 billion transactions worth Rs. 23,95,000 crore (US$ 280.28 billion). On a YoY basis, transaction volume rose 33%, while value was up 23%. The number of daily UPI transactions increased from 596 million in April to 602 million in May. The previous record was in March 2025, with 18.3 billion transactions worth Rs. 24,77,000 crore (US$ 289.88 billion).
Other digital payment platforms also witnessed steady growth. Immediate Payment Service (IMPS) recorded 464 million transactions in May, up 3% MoM, with value rising to Rs. 6,41,000 crore (US$ 75.01 billion). However, YoY volume declined 17% while value rose 6%. FASTag transactions rose 5% to 404 million, with value up 4% to Rs. 7,087 crore (US$ 829.37 million). Aadhaar Enabled Payment System (AePS) transactions increased 11% to 105 million, with value up 8% to Rs. 28,703 crore (US$ 3.36 billion). On a YoY basis, AePS posted a 16% growth in volume and 23% in value. The rise in daily transactions across platforms signals robust growth in digital adoption and financial inclusion across India.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.