Mumbai, May 30 (IANS). Unified Payments Interface (UPI) has strengthened its dominance in India’s digital payment system. Its total transaction share has increased from 79.7 percent in the last financial year to 83.7 percent in FY 2025.
The RBI annual report shows that UPI provided the facility of 185.8 billion transactions during FY 2025, showing an increase of 41 percent on an annual basis.
In terms of price, UPI transaction increased from Rs 200 lakh crore to Rs 261 lakh crore from FY 2024.
RBI said, “UPI’s success has brought India to a leading position with a 48.5 percent stake in global real time payment.”
Total digital payments in the country, including payment systems, card networks and transactions via prepaid payment equipment (PPI), increased by 35 percent to 221.9 billion in FY 2025, compared to 164.4 billion in FY 2024.
In terms of value, the total digital payment increased by 17.97 percent to Rs 2,862 lakh crore.
Credit card transactions increased to 4.7 billion in FY 2025, while in FY 2024 it was 3.5 billion, while the use of debit cards saw a rapid decline of 29.5 percent, which decreased to 1.6 billion transactions. Digital transactions stake in the total amount of non-cash retail payments in FY 2025, while it was 99.8 percent in FY 2024.
The RBI also said that the central bank is committed to expanding UPI in 20 countries by 2028-29.
The approval of the Indian UPI app has already been enacted through the QR code in Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka and UAE, so that Indian tourists, students and business travelers can pay using their domestic UPI app.
The RBI also said that the total incidents of fraud cases have decreased, but the amount of fraud has increased three times to Rs 36,014 crore, mainly due to the new ways of fraud.
In contrast, the amount of card and internet fraud declined from 29,802 in FY 2024 to 13,516 in FY 2025.
-IANS
SKT/ABM
