After reaching a record high in May, Unified Payments Interface (UPI) transactions fell slightly in volume and value in June 2025. According to data released by the National Payments Corporation of India (NPCI), the platform processed 18.40 billion transactions worth Rs 24.04 lakh crore in June, up from 18.68 billion transactions worth Rs 25.14 crore in May.
Key Highlights
- UPI recorded 18.40 billion transactions in June—a 1.5% month-on-month dip despite 32% year-on-year volume growth.
- Daily UPI transactions averaged a record 613 million, even as transaction value fell 4% to ₹24.04 lakh crore.
This indicates a monthly (MoM) drop of roughly 4.4% in value and 1.5% in volume. In June, UPI volumes rose 32% year over year (YoY), while transaction values rose 20%.
The average daily transaction count in June was 613 million, a slight increase from 602 million in May, while the average daily transaction value in June was Rs 80,131 crore, a slight decrease from Rs 81,106 crore in May. June's higher daily average is most likely due to the month having fewer days than May.
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PhonePe maintained its lead in May, accounting for 46.47% of total UPI volume, followed by Google Pay, which had a 36.09% market share. Paytm is the third-largest UPI player, accounting for 6.84% of the total UPI volume.
New entrants such as Navi, Flipkart's super.money, and Fampay by Trio are also significantly contributing to overall UPI volume.
Bhutan, Nepal, Mauritius, Sri Lanka, Singapore, France, Oman, and the United Arab Emirates are among the countries that currently offer UPI in addition to India. The UK, Oman, and the Maldives have indicated interest in or are in the early stages of integrating with UPI, while the NPCI plans to extend the program to additional countries, such as Qatar, Thailand, Malaysia, and other Southeast Asian countries, according to media reports.
