The Unified Payment Interface (UPI) saw an increase of 9% in the total transaction volumes taking place between June 2019 and July 2019, according to data published by the National Payments Corporation of India (NPCI). Amount transacted marginally declined between June and July 2019. NPCI is a private company owned by Indian banks and owns and operates important payments systems such as UPI and IMPS.


The total number of transactions in July 2019 was around 3.5 times higher than in the same month last year. The amount transacted went down marginally to Rs 146,386.6 crores over June. The amount transacted in July 2019 was 3.2 times higher than in July 2018. However, given the limited impact of seasonality on digital payments, and the fact that this is pipped to be a high growths sector, month-on-month data needs to be looked at.

Some observations

1. Although the number of transactions increased this July 2019, the amount transacted has been on the decline from last 2 months. As a result, the amount transacted per day has been falling off and set to Rs. 4,722 crores from Rs. 4,885.5 crores as compared to the preceding month.

2. The number of transactions grew by 67.8 million in July, whereas the total amount transacted slightly went down by Rs 179.7 crores. In the previous month (June 2019), volume had increased by 21 million and the amount transacted had decreased by Rs 5,882.9 crores.

3. The average amount per transaction declined to Rs. 1,780 for July 2019 with a continuous decrease in the amount transacted. It has been trending down since May 2019. The average amount per transaction has remained above Rs 1,000 mark for the last 12 months.

4. The number of banks on UPI remained stagnant in July 2019.