The India Unified Payment Interface, aka UPI, has changed how users prefer to pay. If it has created such an impact in the market, should you consider it for your online business?
Let these 10 UPI statistics speak to you and let you make the judgment.
We have covered important UPI payment statistics related to daily users, transaction success rate, volume, and more so you can make a wise decision.
General Interesting Stats and Facts About UPI
- UPI was launched on 11 April 2016 by the National Payments Corporation of India (NPCI).
- UPI became one of the fastest-growing payment solutions because of its simplicity and convenience.
- Unified Payments Interface can be used in 7 countries: Sri Lanka, Mauritius, UAE, Singapore, Bhutan, and Nepal.
- NPCI launched UPI 2.0 in August 2018 with features like signed intent & QR, one-time mandates, invoice verification, and overdraft facilities.
- A merchant has to pay 1.1% of the transaction amount above Rs. 2000.
10+ Interesting UPI Statistics for 2025
1. Unified Payments had 18.68 billion transactions in volume and $ 294.21 billion in May 2025
If you are wondering how many UPI transactions are happening per month? Then, the NPCI UPI statistics claim the transaction volume for May 2025 is 18.68 billion.
The pie chart shared by NPCI gives us a clear breakdown of the following:
- 37% of transactions happened between person to person (P2P)
- 63% of the transactions happened between person to merchant (P2M)
This indicates more than 50% of shoppers prefer using UPI to complete their payment, highlighting its growth and adoption among merchants and customers.
- The ticket size for both P2P and P2M transactions went beyond ₹ 2000
- 58%of the transactions range fell between ₹0-₹500
The volume of UPI-based digital payments in India is over 260.56 trillion in 2025, a significant increase from the previous financial year of 131.14 billion.
Here is the transaction volume for the past years.
| UPI Product Statistics (Monthly) | |
| Month | Volume (in Mn.) |
| FY 2025 | 16,996.00 |
| FY 2024 | 131,129.5 |
| FY 2023 | 83,714.4 |
| FY 2022 | 45,956.1 |
| FY 2021 | 22,330.7 |
| FY 2020 | 12,518.6 |
2. The total value of transactions via UPI in May 2025 is 25,14,297 crores and US$ 294.21 billion.
The UPI was live and available with 673 banks in May 2025, with a volume of 18,677.46 million and 25,14,297 crore in value.
It has hit its highest number since its launch. In 2016, UPI was only live with 21 banks.
3. UPI transaction in May 2025 was recorded at 18,677.46 million, an 9.39% growth compared to the preceding year
The average daily transaction in May 2025 recorded up to 18,677.46 million, an increase of 1,571.50 million from December 2024.
In terms of value comparison, the average daily transaction:
- In May 2025, there were ₹25.14 lakh crore
- In April 2025 there were ₹23.95 lakh crore
- In March 2025, there were ₹79,903 crore
- In February 2025, there were ₹78,417 crore
UPI Usage Statistics
4. PhonePe, Google Pay, and Paytm Processing 96% of UPI Payments
PhonePe, Google Pay, and Paytm are the apps users prefer to complete a UPI transaction. These apps together process 96% of the UPI payments, and PhonePe remains the top UPI app.
PhonePe processed 8.36 million of UPI transactions, followed by Google Pay with 6.48 million.
5. Yes Bank and Axis Bank of India are the top beneficiary bank for UPI transactions
As per NPCI reports May 2025, the top banks with the most UPI transactions were Yes Bank and Axis Bank.
Yes Bank accounted for 7312.77 million transactions, followed by Axis Bank with 1822.485 million transactions. [Data as per April 2025]
6. The average ticket size in India using UPI was 1,528 Indian rupees in 2024
The UPI ticket size has ranged from Rs.1250 to Rs.1528; the ticket size peaked after 2022 as digitalization peaked post covid.
- The average ticket size for person-2-person transactions increased from Rs 2,812 to Rs 2,836.
- The average ticket size for person-2-merchant transactions increased from dropped from Rs 667 to Rs 643
However, the average ticket size saw a decrease of 8%. P2M transactions reached 62.40% in August 2024, where 85% of these transactions were up to ₹500.
Here is a merchant category-wise distribution of UPI usage.
| Categories | Transaction value (in %) | Transaction volume (in %) |
| Grocery stores, restaurants, service stations, clothing stores, government services, pharmacies, and hospitals | 53 | 68 |
| E-commerce, gaming, utilities, government services, and financial services | 81 | 74 |
UPI Growth Statistics
7. The daily UPI transaction to reach 1 billion by 2026-2027
UPI is considered one of the brightest stars in the digital payment space, and all eyes are set on this payment solution and what it can achieve in the coming financial year.
With a projection of 1 billion transactions in 2026-27, UPI is ready to create a cashless transaction environment.
8. 49% of all real-time payments are happening in India
UPI has made a place in users’ daily transactions in India.
The UPI transactions have grown from 92 crore in FY 2017-18 to 24,77,221.61 crore in FY 25 at a CAGR of 129%.
Furthermore, the transaction volume for the 5 months (April-August) of the Financial Year 2024-25 has reached 7,062 crore.
The UPI growth in India is pushing more online store owners to offer this for a seamless checkout. The payment success rate UPI is around 99.2%, which makes the payment solution people’s favorite.
9. UPI transaction volume reached 201 billion, and transaction value reached INR 291 trillion in the first quarter of FY 2024–25
If you are keeping a count of how many UPI transactions are happening per year? Here is your answer.
UPI accounts for 75% of the total transaction volume of India retail payments in February 2023, where the total transaction volume and value reached 24.9 billion and INR 39.7 trillion.
With such a strong market presence, UPI is expected to contribute 90% of all retail digital payments in India by the financial year 2026–2027.
10. UPI transactions volume surged 36% YoY volume growth in 2025
UPI has kept its dominating position with a volume of 78.97 billion, which was 42.09 billion in H2 2022.
Besides this, the value of transactions surged by 40% during the same time.
While digital payment transactions have increased to 18,677.46 million and, the transaction value surged to 25,14,297 crore in May 2025.
11. The daily UPI transaction to reach 1 billion by 2026-2027
UPI is considered one of the brightest stars in the digital payment space, and all eyes are set on this payment solution and what it can achieve in the coming financial year.
With a projection of 1 billion transactions in 2026-27, UPI is ready to create a cashless transaction environment.
Wrapping Up
These UPI stats clearly show how much users have started to trust UPI for online payments and the growing familiarity in the market.
UPI continues to evolve positively. These UPI statistics look promising and have the potential to take over other payment options because of their seamless processing.
We hope these statistics helped you to know UPI a little better.
Sources: NPCI.org, Financial Express, LiveMint, PWC, inc42, Statista
