Unified Payments Interface (UPI), India’s flagship digital payments system, continued its strong growth trajectory in July 2025 with monthly transaction volume touching 19.47 billion, a 35% year-on-year (YoY) jump. According to data released by the National Payments Corporation of India (NPCI), the corresponding transaction value stood at ₹25.08 lakh crore, registering a 22% YoY increase.
This performance reflects growing consumer adoption, merchant acceptance, and integration across platforms. On a sequential basis, July volumes rose nearly 5.8% over June 2025, which had recorded 18.40 billion transactions amounting to ₹24.04 lakh crore.
The average daily transaction count for July stood at 628 million, while the average daily transaction amount clocked in at ₹80,919 crore. These figures underscore UPI’s evolution from a peer-to-peer payment tool to a dominant retail and commercial payments infrastructure.
June had seen a 32% YoY rise in transaction count and a 20% jump in value, reflecting the platform’s steady momentum. In May 2025, the transaction count had been slightly higher at 18.68 billion, but the transaction value was marginally ahead at ₹25.14 lakh crore, suggesting a shift toward higher frequency, lower-value transactions in July.
This steady uptick can be attributed to deeper penetration in tier-2 and tier-3 cities, increased merchant onboarding, and wider usage of recurring payment mandates and subscription-based models through UPI AutoPay.
Fintech firms and payment aggregators are also contributing to this surge by integrating UPI into credit products, offering credit card payments via UPI, and enhancing user experience through automation and better interface design.
