India’s digital payments ecosystem recorded a 25 per cent year-on-year growth in April, with UPI clocking 22.35 billion transactions. In value terms, transactions stood at Rs 29.03 lakh crore, reflecting a 21 per cent annual growth, according to data released by the National Payments Corporation of India (NPCI) on Friday.
On a daily basis, the average number of transactions rose to 745 million in April, up from 730 million in March. The average daily transaction value also increased to Rs 96,766 crore last month, compared to Rs 95,243 crore in the previous month.
IMPS monthly volumes stood at 362 million, with transactions worth Rs 7.01 lakh crore, registering a 13 per cent year-on-year growth. The average daily transactions at 12.08 million also saw an increase.
In March, UPI had recorded its highest-ever monthly transaction volume at 22.64 billion since its launch in 2016.
UPI is now live in more than eight countries, including the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius and Qatar, positioning India as a global leader in digital payments. Its growing international adoption is boosting remittances, promoting financial inclusion, and strengthening India’s position in the global fintech landscape.
India’s flagship digital payments platform has recorded an extraordinary nearly 12,000-fold surge in transaction volume over the past decade, according to the Ministry of Finance.
Launched on April 11, 2016, by the National Payments Corporation of India (NPCI) under the regulatory supervision of the Reserve Bank of India (RBI), UPI has evolved into the backbone of India’s digital payments ecosystem.
From a modest base of just 2 crore transactions in FY2016-17, the platform processed over 24,162 crore transactions in FY 2025-26, the ministry said.
In value terms as well, UPI’s rise has been equally remarkable. Transaction value surged from Rs 0.07 lakh crore in its first year of operations to around Rs 314 lakh crore in FY 2025-26, marking an increase of more than 4,000 times.
This dual expansion in both volume and value highlights the platform’s growing relevance not just for small retail payments but also for higher-value transactions.
According to government assessments, UPI’s scale, interoperability, and reliability have positioned India as a global leader in digital public infrastructure. The International Monetary Fund (IMF) has also recognised UPI as the world’s largest real-time payment system by transaction volume, further reinforcing India’s standing in the global fintech landscape.
-IANS
