Page 6 - Upi Transactions

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

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

UPI transaction value dips 3% to ₹23.9 trillion in April, volume dips 2%

In March, the volume reached 18.3 billion and the value stood at ₹24.77 trillion, marking a 14 per cent and 13 per cent rise, respectively

NPCI issues two circulars on API usage amid rising UPI disruptions

The NPCI has directed banks to implement changes in the response time of UPI APIs by June 16 this year. These guidelines, shared with banks and other stakeholders, aim to reduce UPI network outages

NPCI directs UPI members to follow new API guidelines to avoid disruptions

For instance, this includes restricting a high number of repeat APIs for the same or older transactions

BHIM app rolls out the UPI Circle feature with partial delegation

Transactions initiated by these secondary users will require explicit approval from the primary users via their UPI PIN on the application

UPI Circle launched on Bhim app: how it works and key benefits

Feature allows users to securely delegate UPI payments to trusted individuals; each transaction requires real-time approval

No GST on UPI transactions above ₹2,000, clarifies Finance Ministry

A ministry release said that since currently no MDR is charged on UPI transactions, there is consequently no GST applicable to these transactions

UPI outages: NPCI, banks working on durable solution to plug gaps

The current challenge stems from the extremely high frequency of transaction status API calls

NPCI meets banks, UPI apps to discuss recent outages on the platform

Sources also said that NPCI informed banks that it will be sharing a detailed to-do list, outlining specific actions that need to be implemented to strengthen the UPI ecosystem

India planning to bring 300 million new users onto UPI payments platform

The home-grown payments platform has in the past five years transformed how more than 450 million retail consumers pay for everything from holidays to a cup of tea using their smartphones

UPI outages lasted 282 minutes across two incidents in 2022, 2025

The longest outage, lasting 187 minutes, was in January 2022

UPI down again: Google Pay, Paytm, PhonePe hit amid widespread disruption

Users reported failed payments and problems with fund transfers as the most common issues

One-third of digital payments in 2024 are driven by credit use: Report

Nearly one-third of all domestic digital payment transactions in 2024 were credit-driven, facilitated through credit cards or interest-bearing EMIs, according to a report. According to a report by digital payments fintech Phi Commerce, UPI has become a transformational product in digital payments responsible for 65 per cent of total transactions. While UPI dominates small and mid-value transactions, credit cards and EMIs (equated monthly instalments) are increasingly used for big-ticket purchases, with education, healthcare, and auto ancillary sectors seeing strong growth in digital credit adoption, the report said. Festive shopping, school admissions, and seasonal trends drive spikes in credit usage, showing that consumers rely on short-term credit for high-spend periods, it said. The report is based on analysed transaction data from over 20,000 merchants across the country. As UPI and flexible credit options become mainstream, the future belongs to those who leverage these tools

Now, NPCI can revise transaction limits on UPI based on evolving user needs

P2P transactions on UPI shall continue to be capped at Rs 1 lakh

PM Modi proposes UPI link to boost trade and tourism at BIMSTEC Summit

PM Modi also suggested new steps to increase trade and cooperation among BIMSTEC nations

Paytm unveils silent 'Mahakumbh Soundbox' with screen for discreet payments

The new product, launched at Startup Mahakumbh event in Delhi, can be useful for vendors who prefer not to have payment details spoken out loud, especially for transactions involving big amounts

PM Modi offers linking UPI with payment systems of BIMSTEC nations

Seeking to impart fresh impetus to the BIMSTEC grouping, Prime Minister Narendra Modi on Friday proposed linking India's UPI with the payment systems of the member nations, a move that could boost trade, business and tourism within the region. Addressing the sixth BIMSTEC Summit here, the Prime Minister also proposed to set up a BIMSTEC Chamber of Commerce, organise annual business summits and explore promoting trade in local currencies within the region. At the outset, the Prime Minister offered his condolences for the loss of lives and property in Myanmar and Thailand in the devastating earthquake on March 28. Modi also proposed establishing a BIMSTEC Centre of Excellence for Disaster Management in India to collaborate on disaster preparedness, relief and rehabilitation. The BIMSTEC Summit, hosted by Thailand, is attended by leaders from India, Bangladesh, Nepal, Myanmar, Sri Lanka and Bhutan. The BIMSTEC Summit adopted the Bangkok Vision 2030 to realise the shared commitment to

Small transactions drive 7.8% drop in UPI payments' average ticket size

The ticket size for peer-to-peer UPI payments was recorded at Rs 2,666 in H2 2024

NPCI expands AI use to enhance customer safety in digital transactions

The National Payments Corporation of India (NPCI) is leveraging Artificial Intelligence in a "big way" to enhance customer security in digital transactions, amid a surge in UPI usage. NPCI is conducting a pilot study in collaboration with public and private sector banks to integrate Artificial Intelligence (AI) and Machine Learning for strengthening customer safety, NPCI Chief Risk Officer Viswanath Krishnamurthy said here. Established in 2008 by the Reserve Bank of India and Indian Banks Association, NPCI oversees retail payment systems in the country. Providing some statistics, Krishnamurthy noted that in March alone Unified Payments Interface (UPI) transactions reached 18.30 billion, marking a 36 per cent year-on-year growth. The transaction value stood at around Rs 24 lakh crore, reflecting a 25 per cent increase in growth year-on-year. Over the past five years, UPI adoption has soared with a compound annual growth rate of 74 per cent, making it the largest retail payment syste

UPI outage hits transactions as year-end rush strains bank servers

A surge in UPI transactions and year-end bank closures led to a system outage, causing transaction failures, which the NPCI attributed to high volumes and financial year-end settlements at banks