India’s Unified Payments Interface (UPI) recorded a slight dip in transaction volume and value in June 2025 compared to the previous month, according to the latest data from the National Payments Corporation of India (NPCI).
In June 2025, UPI processed 675 crore transactions, amounting to a total value of ₹24.03 lakh crore. This marks a decrease from May 2025, when the platform recorded 673 crore transactions valued at ₹25.14 lakh crore.
Although the number of transactions in June (675 crore) saw a marginal increase from May (673 crore), the overall value of transactions dipped by more than ₹1.10 lakh crore. The average transaction value also dropped from ₹18,677.46 in May to ₹18,395.01 in June.
This decline in value, despite a marginal rise in volume, may indicate a rise in low-value transactions or a temporary cooling-off in high-ticket payments such as business-to-business or merchant payments.
The UPI ecosystem continues to be a cornerstone of India’s digital payments infrastructure, supported by wide merchant adoption, peer-to-peer payments, and innovations like UPI Lite, Credit on UPI, and international UPI launches.
Despite the monthly dip, analysts believe the trend remains strong, with UPI poised to cross new milestones in FY2025-26 as newer use cases and international corridors expand.
