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Mumbai: The Unified Payments Interface (UPI) has reinforced its dominance in India’s virtual bills gadget with its proportion within the general transaction quantity emerging to 83.7 in step with cent in 2024-25 from 79.7 in step with cent within the earlier monetary 12 months.
The RBI’s annual record presentations that UPI facilitated 185.8 billion transactions throughout 2024-25, which represents a 41 in step with cent year-on-year build up. In worth phrases, UPI transactions rose to Rs 261 lakh crore from Rs 200 lakh crore in FY24.
“The luck of UPI positioned India in a management place with a proportion of 48.5 in step with cent in world real-time bills by way of quantity,” the RBI stated.
Total virtual bills within the nation, together with transactions via fee techniques, card networks, and pay as you go fee tools (PPIs), grew 35 in step with cent to 221.9 billion in FY25, from 164.4 billion transactions in FY24. In worth phrases, general virtual bills surged 17.97 in step with cent to Rs 2,862 lakh crore.
Credit card transactions larger to 4.7 billion in FY25 from 3.5 billion in FY24, whilst debit card utilization noticed a pointy 29.5 in step with cent decline, falling to 1.6 billion transactions. The proportion of virtual transactions within the general quantity of non-cash retail bills stood at 99.9 in step with cent in FY25 when compared with 99.8 in step with cent in FY24.
The RBI additionally stated it stays dedicated to extending UPI to 20 nations by way of 2028–29. Acceptance of Indian UPI apps by means of QR codes has already been enabled in Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the UAE, permitting Indian vacationers, scholars, and industry travellers to make service provider bills the usage of their home UPI apps.
The RBI additionally stated that the overall occurrence of fraud instances declined, however fraud quantities tripled to Rs 36,014 crore, basically because of surging advances associated with fraud. In distinction, card and web fraud quantity lowered considerably from 29,802 in FY24 to 13,516 in FY25.
