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UPI transactions near 17 Bn in January

EntrackrEntrackr · 1y ago
UPI transactions near 17 Bn in January
Medial

UPI transactions near 17 Bn in January The Unified Payments Interface (UPI) recorded 16.99 billion transactions worth Rs 23.48 lakh crore in January, reflecting a 39% year-on-year growth in transaction volume and a 28% increase in transaction value. On a monthly basis, UPI saw a 1.55% growth in volume and nearly a 1% rise in value, compared to 16.73 billion transactions worth Rs 23.25 lakh crore in December. According to data released by the National Payments Corporation of India (NPCI), the average daily transaction count stood at 548 million. PhonePe currently leads the UPI market with a 47.7% share of transaction volume, followed by Google Pay at 36.7% and Paytm at 6.87%. This market share distribution is unlikely to change soon, as NPCI has extended the compliance timeline for Third-Party App Providers (TPAPs) exceeding the UPI volume cap. The new deadline has been extended by two years, until December 31, 2026. Meanwhile, NPCI has lifted the user onboarding limit for WhatsApp Pay, allowing the platform to offer UPI services to its entire user base across India. Recently, NPCI Chief Dilip Asbe disclosed that approximately 450 million users are currently utilizing UPI, with around 200 million daily active users. He emphasized the need for substantial support from the Reserve Bank of India (RBI), the government, and the broader financial ecosystem to explore strategies for onboarding an additional 200-300 million users onto the UPI platform.

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UPI sets new monthly record with 21.7 Bn transactions in January

EntrackrEntrackr · 19d ago
UPI sets new monthly record with 21.7 Bn transactions in January
Medial

UPI sets new monthly record with 21.7 Bn transactions in January On a year-on-year basis, UPI transaction volumes grew 28% in January, while transaction value increased 21% YoY. In value terms, UPI transactions stood at Rs 28.33 lakh crore. Unified Payments Interface (UPI) sustained its growth momentum in January 2026 and recorded 21.7 billion transactions, compared to 21.63 billion transactions in December 2025, according to data released by the National Payments Corporation of India (NPCI). On a year-on-year basis, UPI transaction volumes grew 28% in January, while transaction value increased 21% YoY. In value terms, UPI transactions stood at Rs 28.33 lakh crore, compared to Rs 27.97 lakh crore in December. The average daily transaction count was 700 million, versus 698 million in the previous month, while the average daily transaction value reached Rs 91,403 crore, compared to Rs 90,217 crore in December. For comparison, UPI had processed 20.47 billion transactions worth Rs 26.32 lakh crore in November 2025. While NPCI is yet to release app-wise data for January 2026, December figures show that PhonePe led the ecosystem with 9.81 billion transactions, accounting for around 45% of total volumes and nearly 49% of transaction value. Google Pay followed with 7.5 billion transactions, while Paytm ranked third with 1.65 billion transactions. Other players such as Navi, super.money and the government-backed BHIM app also contributed, with BHIM overtaking CRED in transaction volumes during the month. Beyond India, UPI continues to expand internationally. The payments system is already live in markets such as Singapore, the UAE, Nepal, Bhutan, Sri Lanka, Mauritius and France, while NPCI works on further expansion to countries including the UK, Australia and select regions in Southeast Asia and the Middle East.

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

EntrackrEntrackr · 11d 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.

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.

UPI transactions decline in February but remain strong YoY

EntrackrEntrackr · 11m ago
UPI transactions decline in February but remain strong YoY
Medial

UPI transactions decline in February but remain strong YoY Unified Payments Interface (UPI) recorded 16.11 billion transactions in February 2025, reflecting a slight 5.2% decline from January’s 16.99 billion transactions, according to data released by NPCI. However, on a year-on-year (YoY) basis, UPI transactions surged 33% compared to February 2024. In terms of transaction value, UPI processed Rs 21.96 lakh crore in February, down 6.5% from Rs 23.48 lakh crore in January 2025. Despite the monthly dip, the transaction value witnessed 20% YoY growth. A seasonal dip in February, which has fewer days than January, is a common trend for UPI. The daily transaction average in February stood at 575 million, slightly higher than 548 million in January. The average daily transaction value also increased to Rs 78,446 crore in February from Rs 75,743 crore in January. While UPI transactions saw a slight pullback from the record figures in January, the YoY growth signals a steady upward trend. In January, PhonePe led the chart with 8.1 billion transactions, followed by Google Pay with 6.18 billion, while Paytm secured the third spot, processing 1.15 billion transactions. The monthly breakdown for February has yet to be released. NPCI Chief Dilip Asbe recently revealed that UPI has 450 million users, with 200 million active daily. He emphasized the need for RBI, the government, and financial institutions to support strategies aimed at onboarding 200-300 million more users. NPCI is also set to establish a 5,000-capacity research and development (R&D) center to accelerate innovation in payments technology and strengthen global collaborations.

PhonePe hits 9.8 Bn UPI transactions in December; BHIM overtakes CRED

EntrackrEntrackr · 1m ago
PhonePe hits 9.8 Bn UPI transactions in December; BHIM overtakes CRED
Medial

PhonePe hits 9.8 Bn UPI transactions in December; BHIM overtakes CRED PhonePe has continued to tighten its grip on India’s UPI ecosystem in December with 9.81 billion customer-initiated transactions worth Rs 13.61 lakh crore, according to data compiled from NPCI disclosures. The Walmart-backed fintech held a 45.35% market share by volume and 48.68% by value among the top 10 UPI apps during the month. Google Pay retained the second position with 7.5 billion transactions, accounting for a 34.64% share of total volumes and 34.25% of overall transaction value. Paytm stayed in third place with 1.65 billion transactions in December, representing a 7.65% share by volume and 6.32% by value. Beyond the top three, activity remained fragmented. Navi reported 678 million transactions, while super.money recorded 287 million transactions during the month. The government-backed BHIM app saw 158 million transactions, while CRED slipped to eighth position with 157.25 million transactions. However, CRED registered nearly three times higher transaction value compared to BHIM. Axis Bank’s UPI apps and WhatsApp Pay remained small contributors, each accounting for less than 1% of total transaction volumes. The strong app-level numbers came as UPI overall logged one of its highest-ever monthly transactions in December, with 21.63 billion transactions worth Rs 27.97 lakh crore. The increase was mainly due to year-end spending, continued festive demand, and more people using UPI for small offline payments in tier II and tier III cities. In December, UPI transactions were led by everyday consumption categories, as groceries and supermarkets topped the chart, followed by fast food outlets, restaurants, telecom services, and fuel stations. Digital gold also saw a strong uptick during the month, recording 183.32 million transactions worth Rs 2,079.31 crore from 123.42 million transactions valued at Rs 1,215.36 crore in November.

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