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UPI transaction volume dips slightly in September

EntrackrEntrackr ยท 19h ago
UPI transaction volume dips slightly in September
Medial

UPI transactions in India remained strong in September 2025, with the platform processing 19.63 billion transactions valued at Rs 24.90 lakh crore, according to data from NPCI. While the transaction count showed a slight dip (1.9%) from Augustโ€™s 20.01 billion, the total value edged higher from Rs 24.85 lakh crore. The slight decline is partly due to September having fewer days than August. The average daily transaction volume in September was 654 million, generating a daily value of Rs 82,991 crore, compared to 645 million transactions and Rs 80,177 crore per day in August. On a year-on-year basis, September saw transaction volumes rise 31% and transaction values increase 21%, compared with Augustโ€™s 34% growth in volumes and a 21% rise in value. As of August, PhonePe held a 45.74% share of transaction volume, followed by Google Pay with a 35.30% share. For the first time, PhonePe and Google Pay crossed the 9 billion and 7 billion monthly transaction milestones, respectively, in August. Sector-wise, grocery and supermarket merchants recorded the highest UPI usage, followed by fast food and restaurant categories. The breakup data for September is yet to be released. UPI has expanded to several new countries, including France and the UAE, with agreements in place for Namibia, Trinidad and Tobago, and Peru. It is already operational in Bhutan, Singapore, Sri Lanka, Mauritius, and Nepal, and recently went live in Qatar.

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UPI transactions dip marginally to 17.89 Bn in April

EntrackrEntrackr ยท 5m ago
UPI transactions dip marginally to 17.89 Bn in April
Medial

Since April has 30 days compared to March's 31, adding one day's average daily transaction volume to April's total UPI volume would bring it on par with Marchโ€™s transaction count. Unified Payments Interface (UPI) registered 17.89 billion transactions in April, marking a marginal 2.24% decline from the 18.30 billion transactions recorded in March. The transaction volume in value terms also saw a slight month-on-month drop of 3.3%, settling at Rs 23.95 lakh crore in April compared to Rs 24.77 lakh crore in the previous month. Despite the dip, year-on-year growth remained strong. Aprilโ€™s transaction count reflected a 34% year-on-year rise, while the transaction amount saw a 22% jump compared to the same month last year. According to NPCI data, the average daily transaction count for April stood at 596 million, up from 590 million in March. The average daily transaction value also slightly increased to Rs 79,831 crore from Rs 79,910 crore in March. Since April has 30 days compared to March's 31, adding one day's average daily transaction volume to April's total UPI volume would bring it on par with Marchโ€™s transaction count. The small dip in April is likely attributable to the fewer number of business days in the month and possibly the stabilization after March's financial year-end rush. PhonePe, as usual, maintained its leadership among top UPI apps as of March, followed by Google Pay, Paytm, Navi, and Super.money. With a commanding 47.25% market share by transaction volume, PhonePe processed 8.64 billion transactions. Google Pay followed closely with 36.04%, handling 6.59 billion transactions. Together, the two giants controlled over 83% of the UPI transaction volume. In a recent development, the Indian government approved a new scheme with a budget of Rs 1,500 crore to encourage small merchants to use digital payments through the BHIM-UPI platform.

UPI achieves 10% month-on-month growth in October

EntrackrEntrackr ยท 11m ago
UPI achieves 10% month-on-month growth in October
Medial

Unified Payments Interface (UPI) witnessed decent growth in transaction volume and value from September to October 2024. In October, the digital payment platform recorded 16.58 billion transactions, a 10% increase from Septemberโ€™s 15.04 billion, according to data published by the National Payments Corporation of India (NPCI). The transaction value surged 14% to Rs 23.50 lakh crore in October from Rs 20.64 lakh crore in September. This growth was fueled by a 45% year-over-year rise in transaction count and a 37% rise in transaction value. Moreover, average daily transaction volume increased from 501 million in September to 535 million in October, with the daily transaction amount reaching Rs 75,801 crore, a noticeable increase from Rs 68,800 crore the previous month. In September, PhonePe maintained its leading position in Indiaโ€™s UPI market with a 48% share of transaction volume. Google Pay came in second with 37.4%, followed by Paytm in third place with 7%. The market share data for October has yet to be released. Recently, the National Payments Corporation of India (NPCI) granted approval to One97 Communications Limited, Paytm's parent company, to onboard new users onto its UPI platform. The new authorization is expected to help the Noida-based company expand its user base and enhance its market share in the competitive UPI sector. In recent weeks, NPCI has implemented significant changes to UPI transaction limits. The upper cap for certain types of UPI payments has been raised to Rs 5 lakh, while the limits for UPI Lite Wallet and UPI 123Pay have also been increased. These adjustments are intended to encourage greater digital transaction adoption, supporting the Indian governmentโ€™s ambitious goal of achieving 1 billion transactions per day by 2026-27.

Navi breaks into top 5 UPI apps in September as PhonePe maintains lead

EntrackrEntrackr ยท 11m ago
Navi breaks into top 5 UPI apps in September as PhonePe maintains lead
Medial

September 2024 marked a significant milestone in the Unified Payments Interface (UPI) ecosystem, with total transactions surpassing 15 billion for the first time since its inception in April 2016. PhonePe continues to dominate the market, processing an impressive 7.22 billion transactions valued at Rs 10,30,871 crore, according to data released by National Payments Corporation of India (NPCI). Google Pay follows closely behind, recording 5.62 billion transactions worth Rs 7,46,690.05 crore. PhonePe experienced a slight decline in both transaction volume and value in September, while Google Pay showed an upward trend in both metrics over the same period. Paytmโ€™s transaction numbers remained largely unchanged from August to September. As a result, market shares by volume are now 48% for PhonePe, 37.4% for Google Pay, and 7% for Paytm. In August, the market shares were slightly different, with PhonePe at 48.3%, Google Pay at 37.3%, and Paytm at 7.21%. In terms of transaction value, PhonePeโ€™s share dipped just below 50%, while Google Pay and Paytmโ€™s shares remained stable at 36% and 5.5%, respectively. CRED and Navi recorded 140 million and 120 million transactions, with transaction values of Rs 47,982.71 crore and Rs 6,549.10 crore, respectively. Notably, Navi experienced a 35% increase in transaction volume, and for the first time in September, it broke into the top five apps. Flipkartโ€™s Super.money experienced the highest growth among UPI-based apps in September, boasting an impressive 120% increase in transactions. It secured the 15th position, just behind the government-promoted BHIM app. In September, out of the total 15 billion transactions, peer-to-merchant (P2M) transactions comprised 62%, while peer-to-peer (P2P) transactions made up the remaining portion. However, in terms of transaction value, P2P transactions accounted for over 72.5%, with P2M transactions representing the rest. In recent weeks, the NPCI has raised transaction limits for UPI, increasing the upper cap for certain types of payments to Rs 5 lakh. Additionally, the limits for UPI Lite Wallet and UPI 123Pay have also been enhanced. These changes aim to encourage consumers to engage in more digital transactions, aligning with the Indian governmentโ€™s ambitious goal of reaching 1 billion transactions per day by 2026-27.

UPI records marginal dip in June with 18.4 Bn transactions

EntrackrEntrackr ยท 3m ago
UPI records marginal dip in June with 18.4 Bn transactions
Medial

UPI records marginal dip in June with 18.4 Bn transactions This reflects a month-on-month (MoM) dip of around 1.5% in volume and 4.4% in value. On a year-on-year (YoY) basis, UPI volumes in June grew 32%, while the transaction value rose 20%. After hitting an all-time high in May, Unified Payments Interface (UPI) transactions slightly declined in June 2025 in both volume and value. According to data released by the National Payments Corporation of India (NPCI), the platform processed 18.40 billion transactions worth Rs 24.04 lakh crore in June, compared to 18.68 billion transactions worth Rs 25.14 lakh crore in May. This reflects a month-on-month (MoM) dip of around 1.5% in volume and 4.4% in value. On a year-on-year (YoY) basis, UPI volumes in June grew 32%, while the transaction value rose 20%. The average daily transaction count stood at 613 million in June, slightly higher than 602 million in May, while the average daily transaction value was marginally lower at Rs 80,131 crore compared to Rs 81,106 crore in the previous month. The higher daily average in June is likely due to the fewer number of days in the month compared to May. As of May, PhonePe retained its lead with a 46.47% share of the total UPI volume, followed by Google Pay with a 36.09% market share. Paytm is the third-largest UPI player with a 6.84% share of the UPI volume. New entrants like Navi, Flipkartโ€™s super.money, and Fampay by Trio are also making notable contributions to the overall UPI volume. Besides India, UPI is currently live in Bhutan, Nepal, Mauritius, Sri Lanka, Singapore, France, Oman, and the UAE. According to media reports, NPCI is also aiming to expand UPI to additional countries, including Qatar, Thailand, Malaysia, and other Southeast Asian nations, while the UK, Oman, and the Maldives have shown interest or are in the early stages of integration.

UPI Transactions See Marginal Dip To 1,330 Cr In April

Inc42Inc42 ยท 1y ago
UPI Transactions See Marginal Dip To 1,330 Cr In April
Medial

In April, the transaction volume for Unified Payments Interface (UPI) in India reached INR 19.64 Lakh Cr, slightly lower than the previous month's INR 19.78 Lakh Cr. However, it increased by 40% compared to April of the previous year. UPI transactions decreased by 1% MoM to 13.30 Bn in April. On a YoY basis, the transaction count surged 50%. The Indian payment infrastructure has expanded globally, entering markets such as Nepal, France, and New Zealand. Efforts are being made by the National Payments Corporation of India (NPCI) to boost UPI adoption through new features and services. The NPCI is also considering lower interchange fees for UPI transactions and revising its decision on the market share cap for payment players.

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