Summary:

In December 2024, UPI transactions increased by a record 8% month-on-month, totaling 16.73 billion transactions worth Rs. 23.25 trillion (US$ 271.96 billion), the highest since 2016. By 2024, UPI transactions grew by 46% in volume and 35% in value. Person-to-merchant transactions drove growth, averaging 540 million transactions daily. Both IMPS and FASTag showed increases.

In December, IMPS transactions surged by 8% to 441 million, worth Rs. 6.02 trillion (US$ 70.42 billion), while FASTag volume rose by 6% to Rs. 6,642 crore (US$ 776.90 million). Aadhaar Enabled Payment System (AePS) volume increased by 1%, but value remained unchanged at Rs. 24,020 crore (US$ 2.81 billion).

Source: IBEF

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