Unified Payments Interface (UPI) transactions reached a record high of Rs 25.14 lakh crore in May. According to the data released by the National Payments Corporation of India, the value of total transactions grew by 5 percent on a month-on-month basis, as it stood at Rs 23.94 lakh crore in April.
On a year-on-year basis, the UPI transactions posted a 23 percent growth in terms of value. In May last year, the total value of transactions was Rs 20.44 lakh crore.
In terms of volume, 1,867.7 crore transactions were done in May against 1,789.3 crore in the previous month. The daily transactions during the month averaged Rs 81,106 crore, up 1.5 per cent from April’s level of Rs 79,831 crore.
The continuous growth of UPI
The last high was touched in March when the UPI transactions in value terms hit Rs 24.77 lakh crore. Spice Money founder and CEO Dilip Modi said in a statement that the record-breaking milestone of 1,868 crore UPI transactions worth Rs 25.14 lakh crore in May 2025 is a resounding testament to India’s growing digital payment ecosystem and the deepening trust in UPI as a preferred mode of transaction.
“Across urban centres and into the heart of India, digital finance is no longer aspirational, it has become foundational. The scale and spread of adoption underscore a silent digital revolution underway, driven by accessibility, simplicity, and trust in the system,” he said.
NPCI, an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association, is an umbrella organisation for operating retail payments and settlement systems in India (IBA).
It runs the Unified Payments Interface (UPI) used for real-time payments between peers or at merchants’ end while making purchases.