New Delhi: India's digital payments ecosystem continues to break records, with Unified Payments Interface (UPI) transactions reaching historic highs in May 2025. According to the latest data from the National Payments Corporation of India (NPCI), UPI registered 18.68 billion transactions, amounting to a total value of ₹25.14 trillion—a new benchmark for the platform. This represents a 4% month-on-month (M-o-M) growth in transaction volume and a 5% increase in value compared to April 2025, which saw 17.89 billion transactions worth ₹23.95 trillion. Year-on-year (Y-o-Y), UPI has grown even more impressively, with a 33% rise in volume and 23% increase in value over May 2024. The previous peak was in March 2025, with 18.3 billion transactions valued at ₹24.77 trillion. May’s figures have now surpassed that, further solidifying UPI’s dominance in India's digital payment space. Daily UPI transactions also climbed from 596 million in April to 602 million in May, with daily transaction values rising from ₹79,831 crore to ₹81,106 crore. Other digital payment modes also posted positive momentum. The Immediate Payment Service (IMPS) clocked 464 million transactions in May—a 3% increase over April—with the value rising from ₹6.22 trillion to ₹6.41 trillion. However, Y-o-Y IMPS volume declined 17%, though value grew 6%. Daily volumes slightly dipped from 14.98 million to 14.96 million. FASTag transactions, used for highway tolls, saw 5% M-o-M growth, reaching 404 million in May. Transaction value rose 4% to ₹7,087 crore. Compared to May 2024, FASTag volumes and values are up 16% and 20%, respectively. The Aadhaar Enabled Payment System (AePS) recorded 105 million transactions in May, up 11% from April. The value rose 8% to ₹28,703 crore. Daily AePS usage also increased, reflecting growing trust in biometric-based transactions. Overall, May 2025 marks another significant leap for India’s digital payments revolution.
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