India’s digital payment story is getting bigger every year — and UPI is leading the way.
From buying tea at a roadside stall to paying EMIs, school fees, and even investing in IPOs, UPI has become India’s most trusted payment method.
The latest data from FY 2025–26 shows that UPI is not just growing — it is breaking records.
UPI Usage Has Reached New Highs
Just a year ago, monthly UPI transactions were around 18 billion.
Today, they have crossed 21 billion.
Monthly Transaction Volume Comparison
| Financial Year | Start Month | Volume (Mn) | Peak Month | Volume (Mn) |
|---|---|---|---|---|
| FY 2024–25 | April 2024 | 13,304 | March 2025 | 18,302 |
| FY 2025–26 | April 2025 | 17,893 | December 2025 | 21,635 |
This clearly shows how fast India is adopting digital payments.
Indians Are Paying Bigger Amounts via UPI
UPI is no longer just for small purchases.
People now use it for:
- Rent & EMIs
- Business payments
- Online shopping
- Investments
- Credit card bills
Transaction Value Growth
| Financial Year | Starting Value | Peak Value |
|---|---|---|
| FY 2024–25 | ₹19.64 lakh crore | ₹24.77 lakh crore |
| FY 2025–26 | ₹23.94 lakh crore | ₹27.96 lakh crore |
That’s a huge jump in just one year.
Daily UPI Usage Is at an All-Time High
More Indians are using UPI every single day.
| Year | Avg Daily Volume (Mn) | Avg Daily Value (₹ Cr) |
|---|---|---|
| FY 2024–25 | 443 – 590 | 65,000 – 79,000 |
| FY 2025–26 | 596 – 717 | 79,000 – 97,000 |
This means UPI has become a daily habit, not just a convenience.
Why Is UPI Growing So Fast?
Simple, Fast Apps
Apps like PhonePe, Google Pay, Paytm, Amazon Pay, and BHIM make payments easy for everyone.
QR Codes Everywhere
Even small shops, auto drivers, and street vendors now accept UPI.
More Features
UPI now supports:
- IPO applications
- EMI payments
- Subscriptions
- Credit payments
Strong Trust
Instant transfers and quick refunds have built confidence among users.
What This Means for Banks & Fintechs
UPI growth brings:
Opportunities
- More digital customers
- Higher engagement
- New services
Challenges
- Need for better servers
- Stronger fraud control
- Faster complaint handling
Banks and fintech firms must keep improving their digital systems.
India Is Now a Global Digital Payments Leader
UPI has helped India move towards:
- Less cash usage
- Better financial inclusion
- Faster transactions
- Digital growth for small businesses
India is now the world’s leader in real-time digital payments.
Final Words
UPI is no longer just a payment option.
It is India’s default way to pay.
And with every passing month, it is becoming stronger, faster, and more trusted.
