🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

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

EntrackrEntrackr · 11m 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 · 1d 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 records marginal dip in June with 18.4 Bn transactions

EntrackrEntrackr · 2m 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, Flipkart’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 rise 4.4% in May to 18.68 Bn

EntrackrEntrackr · 3m ago
UPI transactions rise 4.4% in May to 18.68 Bn
Medial

UPI transactions rise 4.4% in May to 18.68 Bn According to data released by the National Payments Corporation of India (NPCI), the total transaction value in May stood at Rs 25.14 lakh crore, compared to Rs 23.95 lakh crore in April. Unified Payments Interface (UPI) continued its upward trajectory in May 2025 with 18.68 billion transactions, a 4.4% month-on-month (MoM) increase from 17.89 billion in April. The transaction volume also reflects a 33% year-on-year (YoY) growth. According to data released by the NPCI, the total transaction value in May stood at Rs 25.14 lakh crore, compared to Rs 23.95 lakh crore in April. This marks a 5% MoM jump, while on a YoY basis, the transaction value registered a 23% growth. The daily average transaction volume in May rose to 602 million, compared to 596 million in April. The daily average transaction value stood at Rs 81,106 crore, up from Rs 79,831 crore in the previous month. In March, UPI processed 18.30 billion transactions worth Rs 24.77 lakh crore, indicating that May’s performance has surpassed both the previous months in terms of volume and value. As of April, PhonePe continued to lead among UPI apps, followed by Google Pay, Paytm, Navi, and Super.money. PhonePe held the largest share with 46.73% of all UPI transactions, processing 8.36 billion transactions. Google Pay came next with a 36% share, handling 6.48 billion transactions. Together, PhonePe and Google Pay accounted for almost 83% of the total UPI transaction volume. Recently, gold-saving app Jar also entered the consumer payments space with a UPI app in partnership with Unity Small Finance Bank as the Payment Service Provider. Entrackr exclusively reported the development on May 29.

UPI transactions dip marginally to 17.89 Bn in April

EntrackrEntrackr · 4m 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 March’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. April’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 March’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.

Download the medial app to read full posts, comements and news.