UPI Transaction Value Dips 3% in April

Immediate Payment Service transactions also declined by 3% to 449 million

- SHINE JACOB

Unified Payments Interface (UPI) transactions in April this year fell by 2 per cent to 17.89 billion, while the transaction value decreased by 3 per cent to 23.95 trillion, following a strong performance in March 2025 due to year-end sales.

In March, the volume reached 18.3 billion and the value stood at 24.77 trillion, marking a 14 per cent and 13 per cent rise, respectively, from February, according to data from the National Payments Corporation of India.

Markedly, April 2025 numbers showed a 34 per cent increase in volume and a 22 per cent rise in value compared to the same month last financial year.

"In May 2025, UPI transactions are likely to maintain their growth trajectory, building on the impressive pace set in previous months. Digital payments in India are not just expanding—they are becoming fundamental to everyday life," said Kunal Jhunjhunwala, founder of Airpay Payment Services.