UPI Transaction Record: Payments through UPI are happening very fast, which is also becoming popular. The latest figures are also a testimony to this. In the month of May, UPI transactions have created a new record.
Digital payments are happening very fast in India. Making payments through UPI is becoming easier and popular. The latest figures are also testifying to this. In the month of May, UPI transactions made a new record. (UPI Transactions in May Month). In the month of May, transactions worth around 20.45 lakh crores have been done. (UPI Transaction Record) This growth has increased by 6 percent from the figure of April. During the month of April, there was a slight decline in transactions through UPI. In the month of March, a total of 13.44 billion transactions were done through UPI. The figure of April was about 1 percent less in comparison to this.
Increase seen in Fastag transactions
Let us tell you, the volume of Fastag transactions in May increased by 5.7% (MoM) to 34.7 crores, which was 3.28 crores in April. At the same time, the value of Fastag transactions in May increased by 5.6% (MoM) to 5908 crores, which was 5,592 in April. Talking about last year’s data, from May 2023 to May 2024, the volume is 4 percent ahead and the value is 9 percent. Apart from this, Paytm’s transaction volume declined by 9% (MoM) to 111.7 crores.
Plan to make UPI global
RBI and NPCI are also focused on taking UPI to other countries. RBI, NPCI do not want to limit UPI to India only, they also want to make it convenient for Indians living abroad. RBI aims to use UPI in at least 20 other countries. Success has already been achieved in this direction and transactions through UPI have started in many countries including Sri Lanka, Nepal and UAE.
Check monthly data
- Volume of Fastag transactions increased by 5.7% (MoM) to 34.7 crores in May
- Value of Fastag transactions increased by 5.6% (MoM) to 5908 crores in May
- RBI and NPCI focus on taking UPI to other countries as well
- Transaction volume of Paytm declined by 9% (MoM) to 111.7 crores
- UPI Market Share (As per Transaction Volume)
- Phone Pe : 48.86%
- Google Pay : 37.7%
- Paytm : 8.4%
