The Unified Payments Interface (UPI) transactions have posted a record value and volume in May with the value rising 3 per cent to Rs 29.90 trillion from Rs 29.03 trillion in April. UPI transactions volume also grew to 23.20 billion, up 4 per cent from 22.35 billion in April, as per the data from the National Payments Corporation of India (NPCI).
Daily transactions in May also grew to 748 million compared to 745 million during the previous month, the data said.
The Immediate Payment Service (IMPS) transactions were down in volume to 358 million compared to 362 million last month, and down to Rs 6.96 trillion compared to Rs 7.01 trillion in value terms.
Further, the FASTag transactions moved up by 5 per cent to 375 million compared to 358 million in April. Their value also increased by 4 per cent from Rs 7,025 crore to Rs 7,308 crore.
Aadhaar Enabled Payment System (AePS) transactions fell by 6 per cent to 88 million in May from 94 million in April. Its value also declined to ₹25,247 crore in May compared to ₹27,640 crore April.
Anand Kumar Bajaj, Founder, MD, CEO, PayNearby said, “UPI continues to strengthen its role as one of Bharat’s most trusted digital payment rails. In May 2026, UPI processed 23.20 billion transactions worth ₹29.90 lakh crore, growing 24% in volume and 19% in value. The continued growth reflects how digital payments are becoming deeply integrated into everyday commerce from urban centres to neighbourhood stores and rural communities.”
“What is encouraging is the evolution of UPI from a convenience-led payment mode to an essential business utility for consumers, neighbourhood retailers, and micro-entrepreneurs. At the same time, developments around cross-border acceptance, merchant infrastructure, security, and credit integration are deepening trust in the ecosystem.”