MUMBAI: A Slight Decline in Digital Payment Volumes

In April, India witnessed a minor dip in digital payment volumes, with the Unified Payments Interface (UPI) processing 1,789 crore transactions, down from 1,830 crore in March. This decrease occurred amidst brief service outages, yet the average daily volumes reached a record high of 59.6 crore, up from 59 crore the previous month.

Value and Growth Despite Challenges

In terms of value, UPI payments amounted to nearly Rs 24 lakh crore in April, slightly lower than March's Rs 24.8 lakh crore. However, year-on-year data shows a 34% increase in transaction count and a 22% rise in value, highlighting the system's robust expansion.