In April, the value of Unified Payments Interface (UPI) transactions in India fell by 1.7% to ₹29.03 trillion from the previous month's record of ₹29.53 trillion. The volume of transactions also dipped by 1.3% to 22.35 billion, according to the National Payments Corporation of India. However, daily transaction volumes increased from 730 million in March to 745 million in April, suggesting a strong underlying demand for digital payments. Year-on-year comparisons show a 25% increase in volume and a 21% rise in value. Akash Sinha, CEO of Cashfree Payments, noted that the dip was largely due to the high performance in March, driven by financial year-end activities. Meanwhile, Immediate Payment Service (IMPS) transactions saw a 1% decrease in volume and a 5% decline in value, while FASTag transactions also fell by 1.6%. The Reserve Bank of India's new two-factor authentication framework, implemented on April 1, is expected to improve transaction success rates, especially in areas with low connectivity. This framework aims to address issues like failed authentications, enhancing the reliability of digital payments.