What is UPI? Unified Payments Interface (UPI) is an instant real-time digital payment system developed by the National Payments Corporation of India (NPCI) in 2016. It integrates multiple bank accounts into a single mobile application, enabling seamless peer-to-peer and merchant payments without sharing bank details each time. UPI operates on smartphones using a unique virtual payment address (VPA) or UPI ID, facilitating quick fund transfers between bank accounts through apps like PhonePe, Google Pay, and Paytm. Regulated by the Reserve Bank of India (RBI), it leverages existing infrastructure such as Immediate Payment Service (IMPS) to ensure secure, real-time settlements Key points: 1. Recent Performance: UPI transaction value hit a record ₹24.77 lakh crore (₹24,77,000 crore) in March 2025, the highest ever, with 19.78 billion transactions. This marked a 13% increase in value from February and a 25% year-on-year rise compared to March 2024. 2. April Trends: In April 2025, UPI transaction value dipped slightly to ₹23.95 lakh crore, a 3.3% decline from March, likely due to technical issues with major payment apps. However, the average daily value remained robust at around ₹79,831 crore. 3. Growth Drivers: UPI’s growth is fueled by expanding merchant acceptance, government support for digital payments, new features like UPI AutoPay, and enhanced transaction speeds. The National Payments Corporation of India (NPCI) is set to make transactions even faster from June 2025, further boosting user experience. 4. Annual Growth: For FY25, UPI transaction value rose 30% to ₹260.56 trillion (₹2,60,56,000 crore), highlighting strong momentum and widespread adoption across India.

Will the UPI transactions value in India be ₹24,00,000 crore or more in May?

Qty at Yes

Qty at No

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Please note that while the information is based on historical trends and may not reflect the most current developments, we strongly advise all users to consult the latest information and assess the current situation before engaging in any trading related to the event.

<a href="https://www.npci.org.in/what-we-do/upi/product-statistics" rel="noopener noreferrer">https://www.npci.org.in/what-we-do/upi/product-statistics</a>

TIME: The event will expire at 11:59 PM IST on 31 May 2025 or before whenever the data gets updated on the official website. SETTLEMENT: The event will be settled within 24 hours of expiry. Only the mentioned source of truth will be considered for the settlement. RULE: 1. If the number of UPI transactions value (in crore) reaches or crosses the mentioned number, the event will be closed as Yes. In any other case, the event will be closed at No. 2. The mentioned "source of truth: npci.org.in" updates the UPI numbers by the end of the month or the 1st day of the next month