Overview
- The RBI’s half‑yearly Payments System Report for H2 2025 shows UPI handling 85.5% of transactions by volume, while RTGS accounts for 68.6% of total value and UPI for 9.5%, with NEFT at 3.6% of volumes and 14.9% of value.
- India’s total payment volumes rose from 6,437 crore in 2021 to 26,819 crore in 2025 and values climbed from Rs 1,741 lakh crore to Rs 3,215 lakh crore, reflecting CAGRs of 42.9% and 16.6%.
- UPI volumes jumped from 3,873 crore in 2021 to 22,828 crore in 2025, confirming it as the main driver of digital payment growth over the past four years.
- Credit card use expanded to 570 crore transactions worth Rs 23.2 lakh crore in 2025, as private banks’ share of outstanding cards rose to 71.1% and foreign banks’ share fell to 3.8%.
- Debit card transactions fell to 1.336 billion and Rs 4.5 lakh crore in 2025, which the RBI linked to users shifting to UPI, wallets and credit cards, while acceptance data show QR codes grew and PoS terminals and ATMs declined.