UPI QR codes fastest-growing payment infrastructure in FY25, shows data

UPI QR codes have seen remarkable growth in the last few years compared to other payments infrastructure including credit cards and debit cards, latest data by RBI showed. In FY25, the number of UPI QR codes saw 91.5 per cent year-on-year (Y-o-Y) growth to 657.9 million, while growth in credit card slowed down to 7.94 per cent Y-o-Y. On the other hand, debit card additions grew by a meagre 2.7 per cent YoY to 990.8 million and Bharat QR codes saw 7.48 per cent YoY growth to 6.72 million. Increased adoption of UPI for real time payments has been the contributing factor for the surge in UPI QR codes in the country and it is expected to rise even further as more people use UPI for their day to day transactions.