New Delhi, July 1: Unified Payments Interface (UPI) continued its strong growth trajectory in June, recording a 23% year-on-year increase in transaction volume, which rose to 22.72 billion transactions, according to the latest data.
The surge reflects the continued expansion of digital payments across India, driven by increasing adoption among consumers, merchants, and small businesses. UPI has further strengthened its position as the country’s most widely used real-time payment system.
The growth in transactions highlights the deepening penetration of digital payment infrastructure, particularly in urban as well as semi-urban and rural markets. Higher usage across retail payments, peer-to-peer transfers, and merchant transactions contributed to the overall rise.
Market observers noted that the consistent increase in UPI usage underscores India’s ongoing shift toward a cash-light economy, supported by fintech innovation and improved digital access.
Officials and industry stakeholders expect transaction volumes to maintain upward momentum in the coming months as more services and use-cases continue to integrate with the UPI ecosystem.
