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Key Points

UPI has significantly increased its presence in India’s digital payments landscape, capturing an impressive 83.7% share of transactions in the 2024-25 fiscal year. According to the RBI’s annual report, this achievement places India as a global leader in real-time payments, accounting for 48.5% of such transactions worldwide. The report also highlighted substantial growth in the total digital payment volume, with credit card usage up and debit card usage seeing a decline. Looking ahead, the RBI plans to expand UPI services to 20 countries by 2028-29, fostering further global integration.

Key Points: UPI Dominates 83.7% of India's Digital Transactions in FY25

  • UPI's transaction volume surged 41% year-on-year
  • UPI accounts for 83.7% of India's digital payments FY25
  • Global real-time payments led by UPI with 48.5% share
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UPI share surges to 83.7 pc in digital transactions for FY25

UPI's share in digital transactions rises to 83.7% in FY25, demonstrating India's payment leadership.

UPI share surges to 83.7 pc in digital transactions for FY25
"The success of UPI placed India in a leadership position with a share of 48.5% in global real-time payments by volume. - RBI"

Mumbai, May 30

The Unified Payments Interface (UPI) has strengthened its dominance in India’s digital payments system with its share in the total transaction volume rising to 83.7 per cent in 2024-25 from 79.7 per cent in the previous financial year.

The RBI’s annual report shows that UPI facilitated 185.8 billion transactions during 2024-25, which represents a 41 per cent year-on-year increase. In value terms, UPI transactions rose to Rs 261 lakh crore from Rs 200 lakh crore in FY24.

"The success of UPI placed India in a leadership position with a share of 48.5 per cent in global real-time payments by volume,” the RBI said.

Total digital payments in the country, including transactions through payment systems, card networks, and prepaid payment instruments (PPIs), grew 35 per cent to 221.9 billion in FY25, from 164.4 billion transactions in FY24. In value terms, total digital payments surged 17.97 per cent to Rs 2,862 lakh crore.

Credit card transactions increased to 4.7 billion in FY25 from 3.5 billion in FY24, while debit card usage saw a sharp 29.5 per cent decline, falling to 1.6 billion transactions. The share of digital transactions in the total volume of non-cash retail payments stood at 99.9 per cent in FY25 compared with 99.8 per cent in FY24.

The RBI also said it remains committed to extending UPI to 20 countries by 2028–29. Acceptance of Indian UPI apps via QR codes has already been enabled in Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the UAE, allowing Indian tourists, students, and business travellers to make merchant payments using their domestic UPI apps.

The RBI also said that the total incidence of fraud cases declined, but fraud amounts tripled to Rs 36,014 crore, mainly due to surging advances related to fraud. In contrast, card and internet fraud volume diminished significantly from 29,802 in FY24 to 13,516 in FY25.

- IANS

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Reader Comments

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Rajesh K.
UPI is India's digital revolution success story! 🇮🇳 From street vendors to big stores, everyone accepts it now. The 41% growth shows how much we've embraced cashless payments. But RBI should work harder to reduce fraud amounts - that tripling is worrying.
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Priya M.
So proud to see UPI going global! Used it in Singapore last month - seamless experience. Hope more countries get added soon. Though I wish they'd improve transaction limits for international payments. ₹2.5 lakh per day is too low for business travelers.
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Amit S.
Debit card usage down by 29.5%! Shows how UPI has completely changed our payment habits. Even my 70-year-old father uses PhonePe now for milk bills. But RBI should ensure rural areas get better internet connectivity for UPI to truly reach every Indian.
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Sunita R.
While UPI growth is impressive, the fraud amount increase is alarming 😟. RBI needs stricter verification processes. Also, why no mention of UPI Lite? It's a game-changer for small transactions without internet! More awareness needed about such features.
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Vikram J.
India leading global real-time payments with 48.5% share - what an achievement! Our tech stack is being adopted worldwide. But banks need to improve UPI customer support. Last week my payment failed and it took 3 days to get refund. Process should be smoother.
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Neha P.
Love how UPI has made life easier! From splitting restaurant bills to paying kirana stores, everything is instant. Though I miss the days when small shops gave discounts for cash payments 😅. Digital India is here to stay!

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