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UPI sets all-time high with 19.47 Bn transactions in July

EntrackrEntrackr · 4m ago
UPI sets all-time high with 19.47 Bn transactions in July
Medial

UPI sets all-time high with 19.47 Bn transactions in July Unified Payments Interface (UPI) processed an all-time high of 19.47 billion transactions worth Rs 25.08 lakh crore in July, according to data released by National Payments Corporation of India (NPCI). This marked a 5.8% rise in transaction volume and a 4.3% increase in value compared to June 2025, when UPI logged 18.40 billion transactions totaling Rs 24.04 lakh crore. The average daily transaction count also pushed higher to 628 million in July. Year-on-year, UPI maintained its strong growth momentum, with the transaction volume in July 2025 rising by 35% and the total value of transactions increasing by 22% compared to July 2024. While the breakdown numbers for UPI apps are yet to be released, PhonePe accounted for 46.5% of the total UPI volume and nearly 50% of the value as of June. Google Pay captured a 35.6% share by volume and 35% by value, while Paytm remained in third place with 6.9% of the total UPI volume and 5.6% of the value. UPI is live in countries like Bhutan, Nepal, Mauritius, Sri Lanka, Singapore, France, Oman, and the UAE. NPCI plans further expansion to Qatar, Thailand, Malaysia, and other Southeast Asian nations. The UK, Oman, Maldives, and Namibia are also exploring or initiating UPI integration. According to reports, ICICI Bank has started charging payment aggregators and large merchants a fee for UPI transactions, breaking the zero-fee model. This move marks a shift in India’s UPI system, which was previously free for merchants under a government-backed policy.

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PhonePe nears 9 Bn UPI transactions in July; groceries, fast food drive volumes

EntrackrEntrackr · 3m ago
PhonePe nears 9 Bn UPI transactions in July; groceries, fast food drive volumes
Medial

PhonePe nears 9 Bn UPI transactions in July; groceries, fast food drive volumes In July 2025, groceries and supermarkets led UPI transactions with 3,032 million (3.03 billion) in volume and Rs 64,882 crore in value, followed by fast food (1.22 billion) and restaurants (1.15 billion). India’s UPI ecosystem continued to be dominated by PhonePe and Google Pay in July as they jointly captured more than 81% of total customer-initiated transaction volume and value. According to data released by the National Payments Corporation of India (NPCI), UPI processed an all-time high of 19.47 billion transactions worth Rs 25.08 lakh crore in July. Out of the total, PhonePe (8.93 billion) accounted for a commanding 45.88% share in terms of volume, followed by Google Pay (6.92 billion) with 35.56%. Of the total transaction value of Rs 25,08,498.09 crore, PhonePe held 48.64%, while Google Pay contributed 35.53%. Together, Google Pay and PhonePe contributed 81.44% of total UPI volume and 84.17% of the value. Paytm stood third with 1,366.05 million transactions, translating to a 7.02% market share by volume and Rs 1,43,650.62 crore in value or 5.73% share. Navi followed with 444.06 million transactions (2.28%) and Rs 23,562.51 crore in value (0.94%). Flipkart’s super.money (252.85 million; 1.30%) and CRED (144.38 million; 0.74%) trailed significantly in volume, though CRED commanded a stronger value share of 2.20% due to higher-value transactions. FamApp by Trio captured 0.64% volume and 0.06% value share, while Amazon Pay and BHIM registered 0.52% and 0.45% of volume, contributing 0.43% and 0.58% in value, respectively. WhatsApp accounted for 0.38% of the volume and 0.22% of the value. Axis Bank Apps recorded 27.79 million transactions (0.14%) and Rs 5,483.32 crore in value (0.22%). The continued dominance of PhonePe and Google Pay shows the consolidation of India’s digital payments market, even as newer players like CRED, Navi, and super.money attempt to chip away at the duopoly with niche offerings and targeted user bases. In July 2025, groceries and supermarkets led UPI transactions with 3,032 million (3.03 billion) in volume and Rs 64,882 crore in value, followed by fast food (1.22 billion) and restaurants (1.15 billion). While service stations and telecom services saw lower volumes, they posted high values, showing larger spends per transaction. Smaller categories like digital goods, pharmacies, and bakeries reflected UPI’s growing reach across everyday purchases. While NPCI has provided category-wise data for the first time, it will take more time to penetrate every segment, as 2.2 billion transactions are still classified under the undefined category.

UPI sets new record with more than 15 Bn transactions in Sept

EntrackrEntrackr · 1y ago
UPI sets new record with more than 15 Bn transactions in Sept
Medial

Unified Payments Interface (UPI) has achieved a significant milestone by processing over 15 billion transactions in a month for the first time in September. Data published by the National Payments Corporation of India (NPCI) indicates that UPI recorded 15.04 billion transactions valued at Rs 20.64 lakh crore or Rs 20.64 trillion. In August, the number of transactions stood at 14.96 billion, amounting to Rs 20,60,735.57 crore. This reflects a 0.5% month-on-month growth and a 42% year-on-year increase. Notably, UPI surpassed the 10 billion transaction mark for the first time in August of last year. As a result, average daily transactions have also exceeded 500 million. According to UPI data analyzed by Entrackr, UPI reached 500 million daily transactions for the first time on July 2, 2024. While the app-wise breakdown data is yet to be published by NPCI, PhonePe held a 48.36% market share by volume in August, followed by Google Pay with 37.3% and Paytm with 7.21%. CRED has emerged as the fourth largest player in UPI transactions, with new entrants like Flipkart, NAVI, and BharatPe also making strides in the consumer-facing payments sector. Sources from Entrackr indicate that Infibeam Avenues is set to enter the UPI market with its new payment app, RediffPay. In addition to its growth in India, NPCI has launched instant payment services in various countries, including Singapore, France, Mauritius, Nepal, Bhutan, Sri Lanka, and the UAE.

UPI crosses 20 Bn monthly transactions for first time in August

EntrackrEntrackr · 3m ago
UPI crosses 20 Bn monthly transactions for first time in August
Medial

News: UPI crosses 20 Bn monthly transactions for first time in August The Unified Payments Interface (UPI) crossed a major milestone in August 2025 by processing 20.01 billion transactions, the first time it has ever breached the 20 billion monthly mark. In terms of value, UPI recorded transactions worth Rs 24.85 lakh crore during the month. This milestone comes on the back of steady growth over the past few months. In June 2025, UPI clocked 18.40 billion transactions worth Rs 24.04 lakh crore. The following month, July, saw a sharp rise to 19.47 billion transactions, a 5.8% increase from June, with the transaction value climbing to Rs 25.08 lakh crore. In August, UPI transactions crossed the 20 billion mark, posting a 2.8% increase over July. While the total value slipped by 0.9% from the previous month, it still stayed comfortably higher than June’s level. On a year-on-year basis, UPI volumes surged 34%, while the value of transactions jumped 21% in August. The average daily transaction count climbed to 645 million, and the daily value stood at Rs 80,177 crore. UPI also achieved a record of crossing 700 million transactions in a single day on August 2. This surge comes despite the ban on real money gaming platforms, which used to make up a significant share of UPI transactions. Most of these platforms started shutting down after Parliament passed the Promotion and Regulation of Online Gaming Bill, 2025 on August 21. The consistent rise from 18.40 billion transactions in June to 20.01 billion in August underscores the growing reliance on UPI for everyday payments, from peer-to-peer transfers to merchant transactions, cementing its position as the backbone of India’s digital payments ecosystem. As of July, PhonePe (8.93 billion) accounted for a commanding 45.88% share in terms of volume, followed by Google Pay (6.92 billion) with 35.56%. Of the total transaction value of Rs 25,08,498.09 crore, PhonePe held 48.64%, while Google Pay contributed 35.53%. In terms of merchant categories, groceries and supermarkets led UPI transactions with 3.03 billion (3,032 million) in volume and Rs 64,882 crore in value, followed by fast food at 1.22 billion and restaurants at 1.15 billion. Digital goods and games, which also include real money gaming, registered 351.24 million transactions worth Rs 10,076 crore. The breakup data for August is yet to be published by NPCI.

PhonePe records 9.4 Bn UPI transactions in October

EntrackrEntrackr · 18d ago
PhonePe records 9.4 Bn UPI transactions in October
Medial

PhonePe and Google Pay continue to dominate UPI based customer initiated transactions in October. The two apps together accounted for close to 80% of the total volume and value processed through the top 10 apps during the month. PhonePe led the chart with 9,412.07 million (9.4 billion) transactions which gives it a market share of 45.47% by volume. In terms of value, it processed Rs 13,06,401.90 crore contributing 47.88% to the total value of Rs 27,27,790.68 crore. Google Pay followed with 7,165.80 million (7.1 billion) transactions with a 34.62% share by volume. It processed Rs 9,54,186.10 crore in value which translates to a 34.98% share. For context, UPI saw an all time high of 20.7 billion monthly transactions in October, surpassing its previous record of 20.1 billion in August. Paytm was a distant third with 1,522.78 million (1.5 billion) transactions which gives it 7.36% share by volume. It processed Rs 1,67,177.27 crore in value or 6.13% of the total. Navi recorded 574.30 million transactions and a market share of 2.77% by volume while super money had 264.79 million transactions or 1.28%. While Navi saw a 9% increase in volume, Super.money recorded only a 3% increase in monthly transactions. Among the smaller players, CRED processed 157.99 million transactions but contributed a relatively higher 2.29% share of the total value at Rs 62,438.03 crore. BHIM and Amazon Pay recorded 125.70 million and 94.32 million transactions respectively with less than 1% share each. According to NPCI data, UPI spending in October was led by groceries and supermarkets with 3,273.16 million transactions worth Rs 76,073 crore. Fast food outlets saw 1,357.89 million transactions worth Rs 16,798 crore, while restaurants logged 1,190.63 million transactions valued at Rs 20,842 crore. Telecom services recorded 867.86 million transactions amounting to Rs 22,169 crore, and service stations saw 657.36 million transactions with a high outlay of Rs 38,072 crore, highlighting UPI’s dominance across essential and everyday spends. Digital gold also emerged as a notable category, rising to 115.95 million transactions worth Rs 2,290.36 crore in October from 103.19 million transactions worth Rs 1,410 crore in September.

UPI processes 20.47 Bn transactions in November

EntrackrEntrackr · 5d ago
UPI processes 20.47 Bn transactions in November
Medial

UPI processes 20.47 Bn transactions in November This marks the third time since its launch that UPI has crossed 20 billion monthly transactions, the earlier instances being in October and August this year. Unified Payments Interface recorded 20.47 billion transactions in November 2025, slightly below the 20.70 billion transactions reported in October, according to fresh data from NPCI. Despite the marginal month-on-month decline, UPI transactions grew 32% year on year. In terms of value, UPI reported Rs 26.32 lakh crore in November compared to Rs 27.28 lakh crore in October. While the annual growth rate stood at 22%, the monthly dip points to a mild cool off after October which was driven by festival-related spending. Average daily transactions rose to 682 million, while the average daily transaction value stood at Rs 87,721 crore, slightly below October which reported Rs 87,993 crore. In October, PhonePe continued to dominate the ecosystem with 9.4 billion UPI transactions, well ahead of Google Pay and Paytm. NPCI has not yet released the UPI app-wise distribution for November. UPI, launched by NPCI in 2016, has expanded steadily beyond India through NPCI International to enable merchant payments and cross-border transactions. It is already live in countries such as Singapore, UAE, Bhutan, Nepal, France, Sri Lanka, and Mauritius, with more overseas partnerships currently under rollout. Recently, the Reserve Bank of India said that UPI will be interlinked with TARGET Instant Payment Settlement, the instant payment system operated by the Eurosystem.

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