Digital payments in India continued to surge in July 2025, led by growth in UPI and IMPS transactions. However, platforms such as FASTag saw a minor decline in activity, indicating diverse trends across segments.
The Unified Payments Interface (UPI) processed 19.47 billion transactions in July 2025, with a total value of ₹25.08 trillion. This reflected a 6% rise in volume and a 4% increase in value compared to June’s figures of 18.63 billion transactions and ₹24.04 trillion. Although July's value came close to the record of ₹25.14 trillion set in May, it remained marginally lower.
On a daily basis, the number of transactions rose from 613 million in June to 628 million in July. Correspondingly, the daily transaction value increased from ₹80,131 crore to ₹80,919 crore. When compared to July 2024, this year’s UPI data indicated a 35% growth in transaction volume and a 22% increase in value.
Immediate Payment Service (IMPS) transactions reached 482 million in July 2025, marking an 8% rise over the 448 million recorded in June. The total transaction value also climbed 4% to ₹6.31 trillion from June’s ₹6.06 trillion. Although slightly below May's value of ₹6.41 trillion, the numbers signalled steady usage.
On a daily average, transactions increased from 14.94 million to 15.55 million, and the corresponding value rose marginally from ₹20,212 crore to ₹20,368 crore. Compared to July 2024, the number of transactions declined by 2%, but the total value rose by 6%.
FASTag transactions in July fell to 371 million, down 4% from 386 million in June. The transaction value also slipped by 2% to ₹6,669 crore, compared to ₹6,783 crore the previous month. This trend contrasted with May’s higher volumes of 404 million and value of ₹7,087 crore.
Despite the month-on-month decline, FASTag numbers showed a 15% increase in volume and a 20% rise in value compared to July 2024. However, daily transactions dropped from 12.88 million to 11.95 million, with a corresponding decline in value from ₹226 crore to ₹215 crore.
The Aadhaar Enabled Payment System (AePS) saw a 6% rise in transaction volume in July, reaching 103 million from 97 million in June. However, the transaction value dipped slightly to ₹26,585 crore from ₹26,616 crore in the previous month.
The daily average for July stood at 3.31 million transactions, valued at ₹858 crore, compared to 3.24 million and ₹887 crore in June. Compared to the same period last year, AePS experienced a 6% increase in volume and a 10% rise in value.
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The data for July 2025 highlights the growing prominence of UPI and IMPS in India’s digital payment landscape. While platforms like AePS also continued their upward trajectory, FASTag showed a temporary slowdown.
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Published on: Aug 1, 2025, 3:23 PM IST
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