Key Highlights

• UPI transactions in May 2025 reached an all-time high of ₹25.14 trillion, marking a 5% increase from April.
• The volume of UPI transactions also surged to 18.68 billion, up 4% from the previous month.

In May, transactions on the Unified Payments Interface (UPI) reached a record high of 18.68 billion in volume and ₹25.14 trillion in value, according to NPCI data release.

In May, the numbers increased by 4% in volume and 5% in value compared to April's figures of 17.89 billion and ₹23.95 trillion, respectively. The transaction volume increased 33% year on year (Y-o-Y), while the value increased by 23%.

In March 2025, the digital payment system achieved a record volume of 18.3 billion and a value of ₹24.77 trillion.

There were 464 million Immediate Payment Service (IMPS) transactions in May, up 3 percent from 449 million in April. IMPS transactions also climbed 3 per cent in value terms from ₹6.22 trillion in April to ₹6.41 trillion in May. This was seen at 462 million in volume and ₹6.67 trillion in value in March.

The numbers in May were down by 17 per cent in volume and up by 6 per cent in value compared to the same period in 2024. The number of daily transactions dipped from 14.98 million to 14.96 million between April and May this year, leading to a drop in daily value from ₹20,722 crore to ₹20,673 crore.

Also Read: New UPI Rules Effective June 30: Key Updates for Google Pay, Paytm, PhonePe Users

The daily transaction volume increased from 596 million in April to 602 million in May this year, resulting in a value increase from Rs 79,831 crore in April to Rs 81,106 crore in May.

On the other hand, the volume of FASTag transactions increased by 5% to 404 million during the month under review, compared to 383 million in April. The value increased 4% to ₹7,087 crore, from ₹6,801 crore in April. In March, this was 379 million and Rs 6,800 crore, respectively.

The May FASTag numbers increased by 16% in volume and 20% in value compared to the same month in 2024. Daily transactions increased from 12.75 million to 13.05 million, resulting in a value of approximately ₹229 crore, up from ₹227 crore during the same period.

During the month under review, the Aadhaar Enabled Payment System (AePS) increased by 11% to 105 million transactions from 95 million in April. In May, transactions totaled ₹28,703 crore, up 8% from April's ₹26,618 crore. Daily transactions increased to 3.37 million in volume and ₹926 crore in value, from 3.18 million and ₹887 crore in April. When compared to May 2024, AePS increased by 16% in volume and 23% in value.