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UPI Accounts for 85.5% of Digital Payment Volume

  • 20 May 2026

On 19th May 2026, the Reserve Bank of India (RBI), in its latest half-yearly Payment Systems Report, highlighted that Unified Payments Interface (UPI) accounted for 85.5 per cent of India’s digital payment transaction volume in the second half of 2025, reflecting its dominance in retail digital payments.

Key Points

  • Other Payment Systems: NEFT and Prepaid Payment Instruments each accounted for 3.6 per cent of transaction volume, while RTGS contributed 0.1 per cent.
  • Transaction Value Share: RTGS remained dominant in transaction value with a 68.6 per cent share due to high-value settlements.
  • UPI Value Share: UPI accounted for 9.5 per cent of total transaction value despite leading in transaction volume.
  • Growth Trend: India’s digital payment transaction volume increased 33 times between 2016 and 2025.
  • Recent Expansion: From 2021 to 2025, digital payment volumes grew from 6,437 crore to 26,819 crore transactions.
  • Key Drivers: RBI attributed the growth to smartphone penetration, public digital infrastructure, and increasing trust in cashless payments.