Similarly, Immediate Payment Service (IMPS) saw an 11 per cent drop in transaction volume and an 8 per cent drop in transaction value. Due to localised lockdowns, FASTag also witnessed a 15 per cent drop in transactions volume and a 10 per cent dip in value. However, the dip seen in April this year is as bad as last year. Notwithstanding the minor blip in the initial months of the pandemic, where transaction volume and value dipped, the recovery was fast and NPCI's payment platforms like UPI, IMPS, and others recorded fresh highs in the following months aided by aversion towards cash and card usage by the general public.
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