Synopsis: Unified Payments Interface (UPI) recorded over 19 billion transactions worth Rs 24.58 lakh crore in November 2025 (till November 28), showing strong year-on-year growth in both volume and value. The five-year trend confirms UPI’s position as the backbone of India’s digital payment ecosystem.
UPI Crosses 19 Billion Transactions in November 2025
The Unified Payments Interface (UPI) continued its strong growth in November 2025, processing more than 19 billion transactions worth Rs 24.58 lakh crore as of November 28, according to data from the National Payments Corporation of India (NPCI).
In comparison, during November 2024, UPI had recorded 15.48 billion transactions with a total value of Rs 21.55 lakh crore.
This steady rise shows how digital payments have become deeply integrated into daily life across India.
Year-on-Year and Two-Year Growth
The latest NPCI figures highlight:
- About 23% growth in transaction volume between November 2024 and November 2025.
- Nearly 14% increase in transaction value over the same period.
When compared with November 2023, the growth is even more impressive:
- UPI transaction volume has increased by nearly 70% in just two years.
- Transaction value has grown by over 41% in the same period.
Five-Year Trend: From 4 Billion to 19 Billion Transactions
NPCI data over the last five years shows a clear and powerful trend in favour of digital payments:
- In November 2021, UPI recorded only 4.18 billion transactions worth Rs 7.68 lakh crore.
- By November 2022, both the number and value of transactions had nearly doubled.
- From 2021 to 2025, the transaction volume has grown by more than four times.
- Over the same period, the total value of transactions has increased by over three times.
This sustained growth underlines India’s rapid shift from cash-based to digital payment methods and confirms UPI’s role as the core rail of the country’s digital payment ecosystem.
UPI Performance in FY 2025–26 So Far
For the ongoing financial year 2025–26, UPI has processed:
- 12.41 billion transactions so far.
- An average daily volume of 689.60 million transactions.
- An average daily value of Rs 91,324.77 crore.
In the corresponding period of FY 2024–25, UPI’s:
- Average daily volume stood at 516.07 million transactions.
- Average daily value was Rs 71,839.58 crore.
This clearly shows a strong rise in both the number and value of transactions, confirming growing user confidence and wider acceptance of UPI.
What Is Driving UPI’s Continued Growth?
Several factors are contributing to UPI’s rapid expansion:
- Increasing smartphone penetration across urban and rural India.
- Simple and intuitive payment interfaces offered by popular apps.
- Widespread QR code acceptance by small shops, street vendors, and large retailers.
- Support from banks, fintechs, and government-backed initiatives promoting digital payments.
Together, these trends indicate that India’s dependence on cash is steadily decreasing, with UPI becoming the preferred mode for person-to-person as well as merchant payments.
📌 Key Takeaway
UPI’s surge to over 19 billion transactions and Rs 24.58 lakh crore in value in November 2025 reinforces its status as the backbone of India’s digital payments revolution. With strong growth in transaction volume and value, and rising average daily usage, UPI is set to remain at the heart of India’s cashless economy.
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