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UPI transactions soar in FY25 but fall short of govt target
Mint Bangalore
|April 04, 2025
UPI payments are free of cost for users, with the Centre terming the platform a public good.
The Unified Payments Interface (UPI) broke records in FY25, processing an unprecedented 186 billion transactions worth ₹261 trillion. Monthly transactions touched a high of 18 billion in March 2025 amounting to transactions worth ₹25 trillion—up 36% on-year in terms of volume and 25% in value.
A back-of-the-envelope calculation shows this volume of transactions means that around 350,000 UPI transactions were processed every minute in FY25.
In comparison with other popular payment platforms, the Real-Time Gross Settlement (RTGS) platform processed 0.3 billion transactions worth ₹2,014 trillion in FY25; the National Electronic Funds Transfer (NEFT) platform processed 9.6 billion transactions worth ₹443.6 trillion; and the Immediate Payment Service (IMPS) platform processed 5.6 billion transactions amounting to 71.4 trillion, as per RBI data compiled by Mint.
This story is from the April 04, 2025 edition of Mint Bangalore.
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