| Company | Value | Change | %Change |
|---|
For the full year, UPI processed around 172 billion transactions, marking a 46% increase from 118 billion in 2023.
Make seamless payments from your mobile in real-time with UPI. #UPI #DigitalPayments #UPIChalega@GoI_MeitY I @_DigitalIndia I @RBI I @dilipasbe I @upichalega pic.twitter.com/2DcQhpb8bb
— NPCI (@NPCI_NPCI) January 1, 2025
The total transaction value for 2024 surged by 35% to ₹247 lakh crore, up from ₹183 lakh crore in 2023.
Sunil Rongala, Senior Vice President at Worldline India, highlighted the growing role of micro-transactions.
“The December count reflects an 8% month-on-month rise and a 39% year-on-year growth in volume, with transaction amounts rising by 28% year-on-year. The average ticket size continues to reduce, showing UPI’s increasing use for smaller payments, which enhances its sustainability,” he said.
Person-to-merchant transactions contributed significantly to this growth.
UPI’s previous volume high was in October 2024, with 16.58 billion transactions worth ₹23.5 lakh crore.
Daily transaction numbers also increased from 516 million in November to 540 million in December.
On the other hand, Immediate Payment Service (IMPS) transactions were up by 8% in December to 441 million against 408 million in November and 467 million in October. In value terms, this was ₹6.02 trillion, up 8% from ₹5.58 trillion in November, and ₹6.29 trillion in October.
First Published: Jan 1, 2025 3:13 PM IST
