The Unified Payments Interface (UPI) recorded a strong rebound in May, processing 18.68 billion transactions, up from 17.89 billion in April, according to data released by the National Payments Corporation of India (NPCI).
This marks a 33 per cent year-on-year (YoY) growth compared to 14.03 billion transactions in May 2023.
In terms of value, UPI transactions surged to ₹25.14 lakh crore in May 2025 — a 5 per cent rise over April’s ₹23.95 lakh crore and a 23 per cent increase from ₹20.45 lakh crore in the same month last year.
The average daily transaction volume stood at 602 million, while the average daily transaction value reached ₹81,106 crore.
UPI continues to cement its dominance in India’s digital payments ecosystem, with its share in total transaction volume rising to 83.7 per cent in FY25, up from 79.7 per cent in FY24.
According to the Reserve Bank of India (RBI), UPI processed 185.8 billion transactions in 2024–25, marking a 41 per cent YoY growth. In value terms, UPI payments climbed to ₹261 lakh crore, compared to ₹200 lakh crore in the previous fiscal year.
“The success of UPI has positioned India as a global leader, accounting for 48.5 per cent of global real-time payments by volume,” the RBI noted in its annual report.
Overall, digital payments in India — encompassing UPI, card networks, prepaid instruments, and other systems — grew 35 per cent to 221.9 billion transactions in FY25. The value of these payments rose by 17.97 per cent to ₹2,862 lakh crore.
Looking ahead, the RBI reiterated its commitment to expanding UPI’s global footprint, aiming to enable UPI services in 20 countries by 2028–29. UPI apps are already accepted via QR codes in Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the UAE, allowing Indian travellers to make merchant payments abroad using domestic UPI platforms.
