How Much Did UPI Transactions Increase in May?
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Synopsis
In May, the Unified Payments Interface (UPI) demonstrated a remarkable recovery, processing over 18 billion transactions and achieving unprecedented value growth. Discover how UPI is transforming digital payments in India and its implications on the global stage.
Key Takeaways
- UPI transactions surged to 18.68 billion in May.
- Total transaction value reached Rs 25.14 lakh crore.
- Year-on-year growth of UPI transactions is 33 percent.
- UPI holds an 83.7 percent share of India's digital payment transactions.
- RBI plans to expand UPI to 20 countries by 2028–29.
New Delhi, June 2 (NationPress) The Unified Payments Interface (UPI) has experienced a significant recovery in May, processing 18.68 billion transactions, an increase from 17.89 billion in April.
According to data from the National Payments Corporation of India (NPCI), UPI transactions recorded a remarkable 33 percent year-on-year (YoY) growth compared to 14.03 billion transactions in the same month last year.
The total value of UPI transactions soared to Rs 25.14 lakh crore last month, marking a 5 percent increase from Rs 23.95 lakh crore in April. This also signifies a 23 percent rise from Rs 20.45 lakh crore in May last year.
The average daily transaction volume reached 602 million, with the average daily transaction value hitting Rs 81,106 crore.
UPI has solidified its position in India’s digital payments landscape, boosting its share in the overall transaction volume to 83.7 percent in 2024-25, up from 79.7 percent in the previous financial year.
The RBI’s annual report indicates that UPI facilitated 185.8 billion transactions in 2024-25, representing a 41 percent year-on-year increase. In terms of value, UPI transactions escalated to Rs 261 lakh crore from Rs 200 lakh crore in FY24.
"The success of UPI has positioned India as a leader with a 48.5 percent share in global real-time payments by volume," stated the RBI.
The total digital payments in India, encompassing transactions via payment systems, card networks, and prepaid payment instruments (PPIs), surged by 35 percent to 221.9 billion in FY25, up from 164.4 billion in FY24. In value terms, digital payments climbed 17.97 percent to Rs 2,862 lakh crore.
The RBI has expressed its commitment to expanding UPI to 20 countries by 2028–29. Acceptance of Indian UPI applications through QR codes is already functional in Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the UAE, enabling Indian tourists, students, and business travelers to make merchant payments using their home UPI applications.
Point of View
It's evident that the surge in UPI transactions reflects a broader shift towards digital payments in India. The growth statistics not only highlight technological advancements but also showcase the increasing acceptance of digital platforms among consumers. This aligns with our nation's vision for a financially inclusive digital economy.
NationPress
16/06/2025
Frequently Asked Questions
What is UPI?
The Unified Payments Interface (UPI) is a real-time payment system developed by the National Payments Corporation of India that facilitates inter-bank transactions.
How many transactions did UPI process in May?
UPI processed 18.68 billion transactions in May.
What was the total value of UPI transactions in May?
The total value of UPI transactions in May was Rs 25.14 lakh crore.
How much did UPI transactions increase compared to last year?
UPI transactions rose by 23 percent compared to May last year.
What is the future of UPI?
The RBI aims to extend UPI to 20 countries by 2028–29.
