UPI Transactions

Number of daily transactions for February stood at 14.46 million, up from 14.33 million in January, which translated to a value of Rs 20,110 crore in February and Rs 19,562 crore in January

UPI transactions in January surpassed 16.99 billion and the value exceeded Rs ?23.48 lakh crore, marking the highest number recorded in any month, the Finance Ministry said on Thursday. For 2023-24, the digital payments landscape has demonstrated remarkable expansion, the finance ministry said in a statement. Unified Payments Interface (UPI) remains the cornerstone of India's digital payment ecosystem, contributing to 80 per cent of the retail payments across the country, it said. The total transaction volume exceeded 131 billion and the value exceeded Rs ?200 lakh crore for the 2023-24. Its ease of use, combined with a growing network of participating banks and fintech platforms, has made UPI the preferred mode of real-time payments for millions of users across the country, it said. As of January, 2025, over 80 UPI Apps , 641 banks are currently live on UPI ecosystem, it said. In FY 24-25 (till Jan, 2025), the People to Merchant (P2M) transactions contributed 62.35 per cent and

Set up of UPI Autopay for various services, including OTT subscriptions, insurance premiums, loan repayments, and utility bills has paved the way for UPI dominance

The NPCI issues warning against a scam that involves fraudsters tricking people into merging calls, where users unknowingly share their OTPs, leading to financial loss

Process will apply only to bulk transaction uploads and not to those done by individuals

PhonePe continued to dominate the UPI ecosystem, commanding a 47.67 per cent market share, with Google Pay and Paytm holding 36.38 per cent and 6.78 per cent, respectively

As UPI transactions rise, so do frauds. From phishing to fake QR codes, here's how scammers operate and key steps to protect yourself from financial fraud

Kiwi users can now enjoy one complimentary airport lounge access for every ₹50,000 spent via Credit Card on UPI on the Kiwi platform.

With the Budgetary outlay for UPI transactions cut by 78 per cent, industry insiders wonder if transaction fees are likely to be introduced

State Bank of India Singapore on Wednesday said the planned YONO-UPI integration through PayNow will provide a bigger reach for India-bound transactions from Singapore. The SBI YONO-UPI-PayNow linkage comes amidst the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) announcing a plan to launch two new payments solutions in the middle of this year to support the transition to e-payments for both corporate and retail cheque users. "For future enhancements, SBI Singapore is looking at having linkage to the UPI, a Government of India initiative system that powers multiple bank accounts through a single interface," SBI Singapore CEO M P Siva told PTI on Wednesday. "The planned YONO-UPI integration through PayNow will provide a bigger reach for India-bound transactions from Singapore, he said. Siva further noted that Singapore is one of the most important markets and we would like to be amongst the best in offering services, given the wide range of ..

The Budget earmarked Rs 437 crore to promote such transactions in financial year 2026 (FY26), compared to Rs 2,000 crore allocated the year before

Markets regulator Sebi is looking to come out with a new mechanism to ensure secure and efficient payments in the securities market through Unified Payments Interface (UPI) in bid to distinguish legitimate financial intermediaries from fraudsters. Under the proposed mechanism, the regulator has suggested creating a unique UPI address for registered market intermediaries, making it easier for investors to confirm that they are paying only registered entities. The proposed UPI payment limit for capital market transactions is set to Rs 5 lakh per day, higher than the current Rs 2 lakh limit. This will be evaluated periodically in consultation with National Payments Corporation of India (NPCI). The Securities and Exchange Board of India (Sebi) floated a consultation paper on the proposals on Friday and sought public comments on them by February 21. Since 2019, Sebi has enabled UPI as a mode of payment in the market. However, there has been a growing issue with unregistered entities ..

The number of daily transactions for January stood at 14.33 million, up from 14.23 million in December, which translated into a daily transaction value of Rs 19,562 crore

Step meant to improve transaction security and technology compliance, says NPCI

Security-related precautions for UPI-enabled credit cards are similar to those for standard UPI payments

In 2024 alone, India recorded 208.5 billion digital payment transactions

This growth aligns with a broader trend in transactions processed through UPI on RuPay credit cards

The apex payments body recorded 16.73 billion transactions in December 2024. UPI registered over 172 billion transactions in 2024 alone

This is the first time in many months that a firm outside the top three has achieved this

According to the licensing requirements, BharatPe has to bring down its stake in the bank to 10 per cent within eight years from the bank's operations