In May, NPCI reported 2.53 Bn UPI transactions, down 4% month on month compared to 2.64 Bn transactions in April
Although UPI transactions recorded a jump in March, the staggered lockdowns introduced across states starting 14th April impacted consumer behaviour again
The slowdown this time has been more gradual compared to the 20% dip in transactions reported in April 2020
The intensified covid-19 wave continues to affect UPI (unified payments interface) transactions in the country negatively. May data shared by National Payments Corporation of India (NPCI) shows that transactions dipped marginally for the second month in a row.
During May, NPCI reported 2.53 Bn UPI transactions, down 4% month on month compared to 2.64 Bn transactions in April. Value of transactions also registered a marginal decline to INR 4.90 Lakh Cr (down 0.6% month on month) compared to INR 4.93 Lakh Cr in April. In March 2021, UPI had reported its best ever figures with 2.73 Bn transactions amounting to INR…