Page 7 - Upi Transactions

UPI transactions rebound in May with 18.68 bn payments; 33% yearly surge

The rebound follows a dip in April, when UPI volumes declined from 18.3 billion in March. That slump was attributed to multiple service disruptions that affected payment flows

UPI's contribution to payments ecosystem volume grows to 83.4% in FY25

UPI recorded 185.8 billion transactions in FY25, up 41.7% from FY24, with India's digital payments now accounting for 99.9% of non-cash retail payments, according to RBI data

Almost-universal UPI usability in 15-29 age group in India, finds survey

The study found that about 85.5% of Indian households have at least one smartphone, while 86.3% have access to the internet within the home

ATMs slide into the shadows as digital transactions take centerstage

With the Covid-induced surge in UPI transactions now firmly here to stay, banks are rethinking their strategies - and costs - on ATMs, especially for off-site machines

PhonePe suffers UPI outage after conducting disaster recovery drills

PhonePe's UPI services went down for over an hour on Monday evening as peak traffic exposed a network capacity shortfall during cybersecurity preparedness drills

PhonePe records slight drop in UPI market share as April volumes fall

PhonePe's UPI market share slipped to 46.73 per cent in April amid a 2.22 per cent dip in total transactions on the real-time payments network

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