The mega success story of Unified Payments Interface (UPI) continues, and it would be no surprise if the number of UPI transactions touches 25 billion a month towards the end of 2025, industry experts said on Monday. 

After reaching a record high in October 2024 of 16.58 billion transactions and a value of Rs 23.50 lakh crore, UPI transactions in November stood at 15.48 billion transactions (38 per cent year-on-year growth) with a value of Rs 21.55 lakh crore (24 per cent YoY growth).

According to Sunil Rongala, SVP, Head–Strategy, Innovation and Analytics, Worldline India, October being the festive season saw a spike in transactions, which is usually seen across all spending channels.

“The number to consider is September 2024 transactions which was 15.04 billion indicating that UPI transactions are generally on a secular rise month-on-month,” he said.

Given the trend and increased smartphone penetration, new use cases and the UPI on feature phones, “it will be no surprise if the number of UPI transactions touches 25 billion a month towards the end of 2025,” Rongala predicted.

The number of daily transactions stood at 516 million in November with Rs 71,840 crore in daily transaction value. According to the NPCI data, the Immediate Payment Service (IMPS) transactions stood at 408 million with a total transaction amount of Rs 5.58 lakh crore in November.

According to the government, UPI has not only made financial transactions fast, secure, and effortless, but it has also empowered individuals, small businesses, and merchants, driving the country’s shift toward a cashless economy.

This remarkable achievement highlights India’s commitment to leveraging technology for inclusive growth and economic progress. UPI has transformed digital payments in India with its unparalleled ease, security, and versatility. The integration of RuPay credit cards with UPI marks another revolutionary step in the digital payment landscape.