UPI Payment: India’s indigenous UPI (Unified Payments Interface) has created a new history in the field of digital payments. In May 2025, a total of ₹25.14 lakh crore worth of transactions were done through UPI, which is almost 12 times the total transactions done through all credit and debit cards in the country.
This figure reflects the unmatched popularity of UPI and its leading role in the Indian digital payment ecosystem. In May 2025, a record 18.68 billion transactions were recorded on UPI, proving that it is not just a medium of money transaction, but a revolution that is changing the financial landscape of India. In April, this figure was ₹ 23.94 lakh crore, showing tremendous growth of 5% on a monthly basis and 23% on an annual basis.
Credit and debit cards are left far behind
While UPI is rapidly advancing, traditional payment methods like credit and debit cards are lagging. In March 2025, credit cards of international card networks like Visa and Mastercard had transactions worth ₹ 2.01 lakh crore, up from ₹ 1.67 lakh crore in February 2025. In April, this figure fell to ₹ 1.85 lakh crore.
Although the figures for May are not yet fully available, the trends are clear. On the other hand, in the case of Debit Cards, transactions worth ₹0.39 lakh crore were done in March 2025, which was more than ₹0.34 lakh crore in February 2025. This data shows that the growth rate of UPI is many times higher than that of card-based transactions.
UPI is on its way to becoming the world’s largest payment platform
Even though Visa is currently ahead in terms of the number of daily transactions, UPI is on its way to overtaking it. In early May, UPI recorded around 63 crore transactions daily, which increased to 65 crore in June.
In comparison, Visa recorded an average of 67.4 crore transactions per day in the March quarter. Given the pace at which UPI is growing, it would not be wrong to say that it will soon become the world’s largest retail interbank payment settlement platform.
UPI’s unprecedented speed
UPI has not only overtaken Visa Card in terms of money transactions, but its growth rate is also many times higher. UPI transactions are seeing an increase of 5-7 percent every month, while its annual growth rate has been 40 percent.
In comparison, Visa Card’s annual growth has been only 10 percent. This shows how quickly digital payments are being adopted in the Indian economy. The Government of India has set a target of one billion transactions per day from UPI in the coming time, which shows its phenomenal potential.
UPI Monthly Transaction Statistics (Amount in Lakh Crore)
Here is the UPI transaction amount (in lakh crore) for the last few months:
Month Transaction Amount (in lakh crore)
May 25.14
April 23.95
March 24.77
February 21.96
January 23.48