India’s Unified Payments Interface (UPI) continued its strong upward trajectory in November 2025, registering consistent year-on-year growth in both transaction volume and value. Data available up to November 28 shows that the platform processed more than 19 billion transactions, amounting to ₹24.58 lakh crore, underscoring UPI’s position as the country’s dominant digital payments system.

Key Highlights

• UPI transactions surged past 19 billion in November 2025, showing strong year-on-year digital adoption.
• Two-year growth reflects expanding merchant acceptance and rising mobile payments across India’s digital ecosystem.

Compared with November 2024, when UPI recorded around 15.48 billion transactions worth ₹21.55 lakh crore, the latest figures reflect a robust rise of nearly 23% in transaction count and 14% in total value. The steady expansion highlights India’s accelerating transition toward cashless payments, driven by user convenience, mobile penetration, and widespread QR-code adoption.

Looking at a broader timeline, UPI has grown even more dramatically. Between November 2023 and November 2025, transaction volumes surged by almost 70%, while the value of transactions increased by over 41%. This strong two-year growth reinforces UPI’s role as a transformative force in India’s financial ecosystem, facilitating seamless peer-to-peer and merchant payments across urban and rural areas.

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For the ongoing fiscal year 2025-26, UPI has already recorded 12.41 billion transactions year-to-date, with an average daily volume of nearly 690 million transactions. The average daily value has been around ₹91,300 crore, significantly higher than the same period last year, which averaged about 516 million daily transactions and ₹71,800 crore in value.

Experts attribute UPI’s continued rise to improved digital infrastructure, increased merchant onboarding, and deeper trust in electronic payments. With adoption expanding across sectors and demographics, UPI remains central to India’s digital economy and is expected to sustain its growth momentum in the coming year.