The Unified Payments Interface (UPI) reinforced its dominance in India’s digital payments, accounting for 83.7% of total transaction volume in FY25, up from 79.7% in FY24
The Reserve Bank of India’s (RBI) annual report for FY25 showed UPI handled 185.8 billion transactions, a 41% increase year-on-year.
In value terms, UPI transactions rose to ₹261 trillion from ₹200 trillion in FY24.
Total digital payments in India, including card networks and prepaid payment instruments, surged 35% to 221.9 billion transactions in FY25.
The total value of digital payments increased by 17.97% to ₹2,862 trillion.
The RBI noted, “The success of UPI placed India in a leadership position with a 48.5% share in global real-time payments by volume.”
Credit card transactions rose to 4.7 billion, up from 3.5 billion. Debit card use, however, declined sharply by 29.5% to 1.6 billion transactions.
Digital transactions made up 99.9% of non-cash retail payments by volume in FY25.
The RBI plans to expand UPI to 20 countries by 2028–29. Indian UPI apps already work in Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the UAE through QR code acceptance.
This enables Indian tourists, students, and business travellers to pay merchants easily.
The RBI also approved NPCI International Payments (NIPL) to deploy UPI-like systems in Namibia, Peru, Trinidad and Tobago, and Jamaica.
It plans to explore Fast Payment System collaborations with the EU, SAARC nations, and other multilateral groups.
UPI transactions continue to revolutionise payments, pushing India to the forefront of the global digital economy.
Also Read: Centre Grants Subsidies For 10,900 Electric Buses In Five Cities Under PM e-Drive Scheme
India evacuated 4,415 nationals from Iran and Israel under Operation Sindhu, the MEA said Friday,…
PM Narendra Modi will embark on a five-nation tour from July 2, visiting Ghana, Trinidad…
The Allahabad HC has directed the UPPSC to allow petitioner Sameer Khan to use a…
The Allahabad High Court strongly rebuked three senior officials from Baghpat district, the Collector, SDM…
The Adani Group has emerged as India’s fastest-growing brand in 2025, registering a massive 82%…
Flash floods struck Swat district, on Friday, sweeping 18 tourists, including women and children, into…