Tap, Pay, Repeat! UPI Hits a Record-Smashing 16.99 Billion Transactions

India's digital payment landscape reached new heights in January 2025, with Unified Payments Interface (UPI) transactions soaring to an all-time high of 16.99 billion. This milestone represents a 39% year-on-year growth and a 1.55% increase from December. The total transaction value surpassed Rs 23.48 lakh crore, showcasing a 28% year-on-year surge. PhonePe led the market with a 47.67% share, followed by Google Pay and Paytm. This record-breaking performance underscores UPI's growing dominance in India's financial ecosystem, with an average of 548 million daily transactions. The surge reflects the increasing adoption of digital payments across the country, solidifying UPI's position as the backbone of India's cashless revolution.
Source: National Payments Corporation of India (NPCI)