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    UPI crosses 20 billion transactions in August, records ₹24.85 lakh crore value

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    UPI crosses 20 billion transactions in August, records ₹24.85 lakh crore value

    IANSToday, UPI accounts for 85 per cent of all digital transactions in India. Its impact goes beyond national borders, powering nearly 50 per cent of global real-time digital payments.

    The Unified Payments Interface (UPI) crossed 20 billion monthly transactions for the first time in August 2025, according to data released by the National Payments Corporation of India (NPCI) on September 1. The total transaction value stood at ₹24.85 lakh crore, slightly lower than ₹25.08 lakh crore recorded in July. UPI transactions grew sharply compared to last year. Transaction value rose 21 per cent from ₹20.60 lakh crore in August 2024. Transaction volume also recorded a strong rise of 34 per cent, reaching 20.01 billion transactions from 14.9 billion in the same period last year. On average, UPI processed 645 million transactions a day in August, amounting to a daily value of ₹80,177 crore.Among payment service providers, PhonePe led with 9.6 billion transactions, followed by Google Pay with 7.4 billion and Paytm with 1.6 billion. PhonePe accounted for 48.64 per cent of the transaction value, Google Pay 35.53 per cent, and Paytm around 8.5 per cent. Navi and CRED were also among the top five, processing 406 million and 219 million transactions, respectively.The data showed that financial payments and essential goods formed the bulk of transactions. Debt collection agencies registered the highest value at ₹77,007 crore, while groceries and supermarkets accounted for ₹68,116 crore. Other key segments included payments to securities brokers, telecom, and utilities.UPI now contributes to 85 per cent of India’s digital transactions and nearly half of global real-time digital payments. The platform is live in seven countries—UAE, Singapore, Bhutan, Nepal, Sri Lanka, France and Mauritius. Its recent launch in France allows Indians there to make payments without relying on foreign systems.Live EventsNPCI, which operates UPI, functions under the Reserve Bank of India (RBI) and the Indian Banks’ Association.(Inputs from PTI)Add as a Reliable and Trusted News Source Add Now!
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