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UPI contribution to digital payments spikes over double in five years: RBI
The Statesman Bhubaneswar
|January 29, 2025
Unified Payments Interface (UPI) contribution cumulatively to the digital payments ecosystem more than doubled in five years, data from the Reserve Bank of India (RBI) said.
UPI contribution has risen from 34 per cent in 2019 to 83 per cent in 2024.
RBI payment system report has said that the share of other digital payment methods, such as National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), Immediate Payment Service (IMPS), and credit and debit cards, declined from 66 per cent in 2019 to 17 per cent at the end of 2024.
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