News on Medial

Related News

UPI transactions rise 4.4% in May to 18.68 Bn

EntrackrEntrackr · 1m 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 records 6.6% dip in November, maintains 38% YoY growth

EntrackrEntrackr · 7m ago
UPI records 6.6% dip in November, maintains 38% YoY growth
Medial

Unified Payments Interface (UPI) processed 15.48 billion transactions worth Rs 21.55 lakh crore in November. This reflects a 6.6% decline in transaction count and an 8.3% decline in transaction value compared to October 2024, which recorded 16.58 billion transactions worth Rs 23.50 lakh crore. The digital payment platform recorded a 10% surge in volume in October compared to September’s 15.04 billion transactions. However, UPI saw year-on-year (YoY) growth of 38% in transaction count and 24% in transaction amount last month, while the daily averages stood at 516 million transactions, amounting to Rs 71,840 crore. In October, PhonePe’s market share saw a minor drop to 47.66% from 48% in September. Google Pay and Paytm’s market shares by volume remained unchanged. For the first time, Navi surpassed CRED to become the fourth-largest player in UPI by volume. The market share data for November has yet to be released. UPI has expanded its reach beyond India, now offering services in countries such as Sri Lanka, Mauritius, France, the UAE, Singapore, Bhutan, and Nepal. According to media reports, the National Payments Corporation of India’s international arm (NIPL) has engaged in discussions with at least 20 countries across Africa and South America to assist in developing systems similar to UPI. In recent months, NPCI has introduced significant changes to UPI transaction limits. The upper limit for specific types of UPI payments has been raised to Rs 5 lakh, while the caps for UPI Lite Wallet and UPI 123Pay have also been increased. These changes aim to drive greater adoption of digital payments, aligning with the Indian government’s ambitious vision of achieving 1 billion daily transactions by 2026-27.

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