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Digital payment via UPI spikes on person-to-merchant transaction growth: Report

Economic TimesEconomic Times · 2y ago
Digital payment via UPI spikes on person-to-merchant transaction growth: Report
Medial

In August, digital payments through the Unified Payments Interface (UPI) exceeded 10 billion transactions, primarily driven by Person-to-Merchant (P2M) transactions, according to a report by Worldline. UPI transactions have seen substantial growth from 151 million in January 2018 to 9.3 billion in June 2023. P2M transactions, accounting for 57.5% of all UPI transactions in June 2023, indicate the future growth of UPI. The report also noted a reduction in the average ticket size (ATS) for UPI P2M transactions, indicating increased use for microtransactions. Electronic Toll Collection (ETC) has seen significant adoption, with 56.5% growth in issued tags and increased transaction volumes and values.

UPI crosses 20 Bn monthly transactions for first time in August

EntrackrEntrackr · 5m 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.

UPI processes 20.47 Bn transactions in November

EntrackrEntrackr · 2m 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.

PhonePe records 9.9 Bn UPI transactions in January; CRED slips to 8th position

EntrackrEntrackr · 17d ago
PhonePe records 9.9 Bn UPI transactions in January; CRED slips to 8th position
Medial

PhonePe records 9.9 Bn UPI transactions in January; CRED slips to 8th position PhonePe remained the leader in the Unified Payments Interface (UPI) ecosystem in January. The Walmart-backed fintech processed 9.91 billion transactions, with a 45.7% share of total volume and a 48.6% share by value among UPI apps. Overall, the UPI processed 21.7 billion transactions worth Rs 28,33,481 crore during the month. Google Pay held on to the second position with 7.23 billion transactions. The platform accounted for 33.3% of overall transaction volume and 33.8% of total value. Paytm ranked third with 1.66 billion transactions, translating into a 7.7% share by volume and 6.4% by value. In value terms, Paytm’s UPI transactions amounted to Rs 1,81,973 crore during the period. With the current trend, PhonePe is expected to cross 10 billion monthly transactions very soon. Among mid-sized players, Navi recorded 709 million transactions worth Rs 37,956 crore, followed by super.money, which processed 298 million transactions valued at Rs 12,546 crore. FamPay also continued to gain traction on the UPI platform. The fintech player processed 161 million transactions in January, allowing it to move ahead of CRED in terms of transaction volume during the month. In December, the government-backed BHIM app had overtaken CRED in volume. That trend continued in January, with BHIM handling 172 million transactions worth Rs 22,026 crore, while CRED processed 157 million transactions. Despite lower volumes, CRED continued to lead in value, with transactions amounting to Rs 58,841 crore, reflecting its focus on higher-value payments. Axis Bank’s UPI apps recorded a total transaction volume of 153 million, driven largely by business-to-consumer payments. WhatsApp Pay processed 113 million transactions worth Rs 8,358 crore. Both platforms accounted for less than 1% of total UPI volumes.

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