Key Points:
- UPI clocked a historic high of 19.47 billion transactions in July 2025, a 35% year-on-year jump.
- Total UPI transaction value reached Rs 25.08 lakh crore the second-highest ever.
- Daily, UPI processes about 628 million transactions, surpassing global payment giant Visa.
- The IMF recognizes UPI as the driver behind India’s leadership in real-time digital payments.
- UPI network includes 491 million users and 65 million businesses, connecting 675+ banks.
New Delhi: India’s digital payment landscape continues its meteoric rise, with Unified Payments Interface (UPI) shattering records in July 2025 and earning global acclaim as the world’s top real-time payment system.
UPI’s Unstoppable Growth: July 2025 Milestones
According to the National Payments Corporation of India (NPCI), UPI handled a record 19.47 billion transactions last month a historic figure marking a 35% increase over July 2024. The total value of these transactions reached an astonishing Rs 25.08 lakh crore, making it the second-highest ever recorded (just shy of May’s Rs 25.14 lakh crore peak).
- Average daily transactions: 628 million
- Average daily value: Rs 80,919 crore
For comparison, in June 2025, there were 18.40 billion transactions worth Rs 24.04 lakh crore. In July 2024, the count stood at 13.88 billion demonstrating over 32% annual growth.
UPI: Outpacing Global Payment Giants
The International Monetary Fund (IMF), in its recent note on “Growing Retail Digital Payments: The Value of Interoperability,” highlighted India’s rapid transformation in digital finance. The note commended UPI for propelling India to the top of the global fast payments leaderboard, surpassing Visa in daily volume.
UPI, launched in 2016 by NPCI, now processes more than 640 million transactions every day exceeding Visa’s 639 million. This remarkable feat has been achieved in less than a decade, redefining convenience for Indian consumers and businesses alike.
An Expanding UPI Ecosystem
- 491 million people use UPI regularly.
- 65 million businesses are empowered by UPI payments.
- 675 banks are seamlessly connected on the platform, allowing frictionless inter-bank transactions regardless of which bank account the user holds.
Global Recognition and the Road Ahead
The IMF’s endorsement underscores not only UPI’s technical prowess but also the impact of interoperability, scalability, and government support in the rise of digital payments in India. Experts credit UPI with creating a robust, inclusive, and highly secure payment ecosystem that has become a model for the rest of the world.
As India’s digital revolution continues, UPI’s success story stands as a testament to the power of innovation and signals a bold trajectory for the future of payments both within and beyond Indian borders.
