The Unified Payments Interface processed over 15 billion transactions worth Rs 20.6 lakh crore in August 2025, the first time the platform crossed the 15 billion monthly milestone. The volume represented 42% year-on-year growth driven by merchant QR payments, international remittances, and integration with urban mobility and utility platforms. PhonePe led with a 48.4% share, followed by Google Pay at 36.2%.
NPCI CEO Dilip Asbe said UPI now processes more daily transactions than Visa and Mastercard combined in India. The platform is live in 7 countries including Singapore, UAE, France, and UK, with 15 more in advanced stages of integration. The RBI estimated digital adoption has reduced informal cash transactions by 38% since UPI launched in 2016, saving approximately Rs 80,000 crore annually in currency management costs.