India’s digital payment activity saw a small drop in June after reaching record levels in May, according to recent data.
UPI (Unified Payments Interface), the most popular digital payment method, processed 18.4 billion transactions in June — a 1.5% dip from May’s all-time high of 18.68 billion. The total value of these transactions also fell by 4%, from ₹25.14 trillion in May to ₹24.04 trillion in June.
FASTag payments, used for toll collections on highways, also declined. In June, 386 million FASTag transactions were recorded, down 4% from 404 million in May. The total value fell from ₹7,087 crore in May to ₹6,793 crore in June. However, compared to June last year, FASTag usage grew by 16% in volume and 18% in value — showing a strong year-on-year rise despite the monthly dip.
AePS (Aadhaar Enabled Payment System), which allows people to access banking services using Aadhaar, also saw a decline. The number of transactions dropped by 8% to 97 million in June, from 105 million in May. The total value of AePS transactions fell 7% from ₹28,703 crore to ₹26,616 crore. Daily transactions slipped slightly to 3.24 million in June, compared to 3.37 million in May.
Despite these declines, when compared to June 2024, AePS volume was down by 3%, but the total value was up by 6%, showing increased usage for higher-value transactions.
Overall, while digital transactions saw a temporary slowdown in June, long-term growth trends remain positive, especially compared to the previous year.
