UPI transactions dip slightly in June; daily volumes continue to rise

Unified Payments Interface (UPI) transactions fell 1.5% in June 2025 to 18.4 billion, down from May’s record 18.68 billion, according to data from the National Payments Corporation of India (NPCI) released on Tuesday (July 1).

The transaction value declined 4% month-on-month to ₹24.04 lakh crore in June, from ₹25.14 lakh crore in May.

Despite the dip, UPI volumes in June grew 32% year-on-year. Transaction value rose 20% compared to June last year.

The number of daily UPI transactions rose to 613 million in June from 602 million in May. However, the daily transaction value dropped slightly to ₹80,131 crore from ₹81,106 crore.

Ramakrishnan Ramamurthy, Chief Delivery and Operations Officer – India, Worldline, said the steady growth reflects a shift in consumer behavior. “June’s UPI performance is a testament to India’s digital maturity… consistent year-on-year growth highlights the deepening adoption of interoperable, low-cost, and secure digital payment solutions.”

Immediate Payment Service (IMPS) transactions, on the other hand, declined 3% in volume and 5% in value month-on-month. There were 448 million IMPS transactions in June, worth ₹6.06 lakh crore, compared to 464 million transactions valued at ₹6.41 lakh crore in May.

Compared to June 2024, IMPS transaction count fell 13%, while value rose 5%.

Kunal Jhunjhunwala, Founder of airpay payment services, said, “India's digital payment ecosystem continues to defy global benchmarks… June has seen an average of 648 million daily transactions, surpassing even Visa's global daily volumes.”

He added that refining system identifiers and maintaining user trust will be crucial as transaction volumes grow.Read about our editorial guidelines and ethics policy