What Caused Daily UPI Transactions to Reach 596 Million in April?
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Synopsis
In April, India's daily UPI transactions surged to an impressive 596 million, up from 590 million in March, showcasing the ongoing digital payment revolution. Despite a slight decline in transaction value, the growth rate remains robust. Read on to find out how NPCI is enhancing user experience through faster response times and what this means for the future of digital payments.
Key Takeaways
- Daily UPI transactions reached 596 million in April.
- Total transaction value was Rs 24 lakh crore.
- Growth rate remains strong at 34.5 percent.
- NPCI is enhancing user experience with faster response times.
- FASTag and IMPS transactions also saw increases.
New Delhi, May 1 (NationPress) According to the latest data from the National Payments Corporation of India (NPCI), the daily volume of Unified Payments Interface (UPI) transactions in the nation surged to 596 million in April, compared to 590 million in March.
The total value of transactions in April amounted to Rs 24 lakh crore, a decline from Rs 24.8 lakh crore in March, marking the 12th consecutive month of transactions exceeding Rs 20 lakh crore.
Despite this drop in value, the growth rate remained robust at 34.5 percent, with a significant 50.7 percent annualized increase in volumes by April 2024. Furthermore, the transaction value saw a 21.9 percent rise in comparison to the same period last year.
There was also a rise in daily transaction volumes for FASTag payments, used for toll and parking, reaching 12.75 million compared to 12.2 million the previous month, indicative of the country's economic activity.
FASTag transactions witnessed a strong growth of 17 percent, up from 12 percent in the prior month, with the total value climbing to Rs 227 crore from Rs 219 crore in March.
Daily volumes for IMPS, another payment method under NPCI's umbrella, increased to 14.98 million from 14.89 million in March.
In an effort to improve user experience and minimize delays, NPCI has updated the response timelines for UPI transactions. A circular issued on April 26 mandates banks and payment applications to adopt faster processing standards starting June 16.
This initiative is designed to minimize delays in payment processing, transaction verification, and reversals. NPCI has instructed all participating entities to ensure these expedited timelines do not result in increased technical declines or service interruptions.
For debit and credit transactions, the revised response time will now be 15 seconds, reduced from 30 seconds. The time for transaction reversals will drop from 30 seconds to 10 seconds. If a user wishes to validate an address, the new response time will be 10 seconds instead of 15 seconds.
Point of View
It's clear that the rise in UPI transactions reflects a significant shift towards digital payments in India. This growth is supported by NPCI's commitment to improving user experience and transaction efficiency, which is crucial for sustaining momentum in the digital economy.
NationPress
22/09/2025
Frequently Asked Questions
What is the current daily volume of UPI transactions in India?
The current daily volume of UPI transactions in India has reached 596 million in April.
How much value was transacted through UPI in April?
The total value transacted through UPI in April was Rs 24 lakh crore.
What changes has NPCI implemented for UPI transaction response times?
NPCI has reduced the response time for debit and credit transactions from 30 seconds to 15 seconds and for transaction reversals from 30 seconds to 10 seconds.
What are FASTag transactions?
FASTag transactions are used for toll and parking payments, facilitating quicker access and improved payment processing.
Why is the growth rate of UPI transactions important?
The growth rate of UPI transactions is a key indicator of the digital payment landscape, showcasing increasing adoption and trust in cashless transactions.
