Did Digital Payments Reach 99.8 Percent of All Transactions in H1 2025? - RBI
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Synopsis
India's digital payments are soaring, with a remarkable 99.8 percent of transactions being digital. The RBI's latest report highlights the dominance of UPI in the market, showcasing the transformation of payment systems in India. Discover the numbers behind this digital revolution and its implications for the economy.
Key Takeaways
- Digital transactions represent 99.8 percent of total payment volume.
- UPI dominates with 85 percent of transactions by volume.
- RTGS holds a 69 percent share in transaction value despite low volume.
- CCIL transactions have seen substantial growth from 2019 to 2024.
- Ongoing efforts are promoting a cashless economy in India.
New Delhi, Oct 23 (NationPress) The landscape of digital payments in India is witnessing an unparalleled surge, with digital transactions constituting 99.8 percent of the overall payment volume and 97.7 percent of the total transaction value during the first half of 2025 (H1 2025), as per data from the Reserve Bank of India (RBI).
The Unified Payments Interface (UPI) remains the frontrunner in the digital payments arena, accounting for 85 percent of transaction volume and 9 percent of transaction value in the initial six months of the year.
In this period, the UPI system processed 10,637 crore transactions valued at Rs 143.3 lakh crore, a significant increase compared to Rs 117 lakh crore the previous year. The RBI attributes UPI's popularity to its efficiency, 24/7 availability, and user-friendly interface, making it the go-to retail fast payment system in India.
Conversely, while the Real Time Gross Settlement (RTGS) system contributed just 0.1 percent to the total volume, it accounted for 69 percent of transaction value. In 2024, RTGS transactions rose to 29.5 crore from 14.8 crore in 2019, with transaction values soaring from Rs 1,388.7 lakh crore to Rs 1,938.2 lakh crore.
In H1 2025 alone, RTGS managed 16.1 crore transactions worth Rs 1,079.2 lakh crore.
The RBI clarified that the contrasting trends in transaction volume and value arise because RTGS primarily handles large-value transfers with a minimum threshold of Rs 2 lakh, while UPI caters to numerous small-value transactions. Of the Rs 1,572 lakh crore in total payment transactions during the period, Rs 1,536 lakh crore were processed digitally.
Furthermore, the Clearing Corporation of India Limited (CCIL) also saw an uptick, with CCIL transactions increasing from 35 lakh in 2019 to 45 lakh in 2024, and their value jumping from Rs 1,270 lakh crore to Rs 2,780 lakh crore. CCIL recorded 28.8 lakh transactions amounting to Rs 1,734 lakh crore in the first half of 2025.
The RBI's statistics illustrate how UPI and other technological advancements, combined with ongoing initiatives to promote cashless transactions, have transformed India's payment ecosystem into a predominantly digital landscape.
Point of View
It's evident that India's rapid transition to digital payments is not merely a trend but a significant evolution in our economic framework. This shift, driven by innovative technology like UPI, reflects a broader commitment to modernizing financial transactions and promoting a cashless society, which will ultimately benefit businesses and consumers alike.
NationPress
23/10/2025
Frequently Asked Questions
What percentage of transactions were digital in H1 2025?
99.8 percent of all transactions were digital in the first half of 2025.
What role does UPI play in digital payments?
UPI accounts for 85 percent of transaction volume and 9 percent of transaction value, making it a major player in the digital payment landscape.
How many transactions did RTGS handle in H1 2025?
RTGS handled 16.1 crore transactions worth Rs 1,079.2 lakh crore in the first half of 2025.
What are the trends in volume and value of transactions?
While RTGS has a low volume share at 0.1 percent, it holds a substantial value share of 69 percent due to high-value transfers.
How has the CCIL performed in recent years?
CCIL transactions increased from 35 lakh in 2019 to 45 lakh in 2024, with transaction values rising significantly.
