Value of monthly UPI transactions India 2018-2023

Published by Statista Research Department, Nov 20, 2023
As of June 2023, the unified payment interface (UPI) transactions in India were calculated to be worth over 14.7 trillion Indian rupees. Although this was a slight decrease compared to the previous month, the value of UPI transactions had grown extensively from less than 550 billion Indian rupees in August 2018.

UPI is a product of the National Payments Corporation of India (NPCI) and was launched in 2016. It allows users of payment service providers like PhonePe or GooglePay to use NPCI as switch to connect with banks and transfer money. It is more user-friendly than older transaction modes such as IMPS.

Value of monthly Unified Payments Interface (UPI) transactions in India from August 2018 to June 2023 (in billion Indian rupees)

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Release date

August 2023

Region

India

Survey time period

August 2018 to June 2023

Supplementary notes

Values have been rounded for clarity.

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