How Did UPI Transactions Surge by 32% in November?
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Synopsis
UPI transactions have surged dramatically in November, marking a 32% increase in counts and a 22% rise in total transaction value. This growth reflects the increasing reliance on digital payments in India, driven by a robust economic environment. How has this shift impacted the digital payments landscape?
Key Takeaways
- 32% growth in UPI transaction counts in November.
- 22% increase in transaction amount to Rs 26.32 lakh crore.
- 682 million average daily transaction counts recorded.
- Digital payments becoming integral to daily life in India.
- Kirana Effect boosting small businesses' digital engagement.
New Delhi, Dec 1 (NationPress) The Unified Payments Interface (UPI) experienced an impressive growth of 32 percent in transaction counts year-on-year, totaling 20.47 billion transactions for the month of November. This growth was accompanied by a 22 percent increase in the transaction amount, reaching Rs 26.32 lakh crore, according to data released by the National Payments Corporation of India (NPCI).
The average daily transaction amount for November was recorded at Rs 87,721 crore, as per NPCI's findings.
In November, the average daily transaction counts were 682 million, up from 668 million in October.
In addition, monthly transactions via Instant Money Transfer (IMPS) amounted to Rs 6.15 lakh crore, reflecting a 10 percent year-on-year growth, with transaction counts reaching 369 million. Daily transaction amounts via IMPS were pegged at Rs 20,506 crore.
For comparison, UPI saw a 25 percent growth in transaction counts year-on-year in October, totaling 20.70 billion, alongside a 16 percent increase in transaction amounts at Rs 27.28 lakh crore.
Remarkably, UPI continues to lead India's digital payments landscape, with transactions soaring 35 percent year-on-year to reach 106.36 billion in the first half of 2025. The total value of these transactions reached a staggering Rs 143.34 lakh crore, underscoring the integration of digital payments into daily life in India, as reported in Worldline’s India Digital Payments Report (1H 2025).
Person-to-merchant (P2M) transactions surged by 37 percent to reach 67.01 billion, propelled by the “Kirana Effect,” indicating that small and micro businesses are becoming a cornerstone of India’s digital economy. The country’s QR-based payment network also experienced remarkable growth, doubling to 678 million by June 2025, marking a 111 percent increase since January 2024.
India’s Digital Public Infrastructure (DPI) has been pivotal in providing universal access to services, addressing urban-rural disparities, and reinforcing the nation’s standing as a global digital leader.
Point of View
This significant growth in UPI transactions showcases India's resilience and adaptability in the digital economy. The increase in digital payment adoption signals a robust consumer confidence and a shift towards a more technologically integrated financial landscape, reinforcing India's position as a leader in digital finance.
NationPress
01/12/2025
Frequently Asked Questions
What is UPI?
The Unified Payments Interface (UPI) is a real-time payment system developed by NPCI that facilitates inter-bank transactions in India.
How much did UPI transactions grow in November?
UPI transactions grew by 32% year-on-year in November, reaching 20.47 billion transactions.
What was the transaction amount in November?
The total transaction amount for UPI in November was Rs 26.32 lakh crore.
What role does the 'Kirana Effect' play in UPI growth?
The 'Kirana Effect' refers to the increasing acceptance of digital payments by small and micro businesses, contributing significantly to the growth of UPI transactions.
How does India's Digital Public Infrastructure impact digital payments?
India's Digital Public Infrastructure has enhanced access to financial services, bridging urban-rural gaps and supporting growth in digital payment adoption.
