Unified Payments Interface (UPI) tops Rs. 25,00,000 crore (US$ 285.75 billion) in July; Immediate Payment Service (IMPS) transactions rise as FASTag volumes fall

Unified Payments Interface (UPI) transactions in July 2025 reached 19.47 billion in volume and Rs. 25,08,000 crore (US$ 286.66 billion) in value, marking a 6% increase in volume and 4% in value over June. Daily transactions rose from 613 million in June to 628 million in July. Compared to July 2024, UPI usage grew by 35% in volume and 22% in value, demonstrating the platform’s continued adoption across India. However, the total value in July remained marginally lower than May’s peak of Rs. 25,14,000 crore (US$ 287.35 billion). Aadhaar Enabled Payment System (AePS) transactions also rose 6% MoM to 103 million in July. However, the value slipped slightly to Rs. 26,585 crore (US$ 3.04 billion).
Immediate Payment Service (IMPS) transactions rose 8% MoM to 482 million in July, with total value increasing 4% to Rs. 6,31,000 crore (US$ 72.12 billion). Despite the monthly rise, IMPS volume fell 2% YoY, though transaction value rose 6%. Meanwhile, FASTag usage declined 4% to 371 million transactions in July, and transaction value dipped 2% to Rs. 6,669 crore (US$ 762 million), compared to June. This was also a drop from May’s peak of 404 million transactions and Rs. 7,087 crore (US$ 810 million) in value. Daily FASTag transactions declined to 11.95 million, with a daily value of Rs. 215 crore. The data highlights sustained momentum in digital payments, though with mixed trends across different modes.

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