India’s UPI transactions hit 21.63B in Dec 2025, ₹27.97L Cr transacted, 29% YoY growth, P2M payments dominate.

According to National Payments Corporation of India (NPCI) data released on Thursday, the unified payments interface (UPI) saw a 29% year-over-year increase in transaction count, reaching 21.63 billion in December, and a 20% annual increase in transaction amount, reaching Rs 27.97 lakh crore.

Both the number and volume of UPI transactions increased dramatically on a monthly basis.

According to NPCI data, the average daily transaction amount increased from Rs 87,721 crore in November to Rs 90,217 crore in December.

The average daily transaction count for December was 698 million, compared to 682 million in November.

The UPI recorded a 22% yearly increase in transaction amount at Rs 26.32 lakh crore in November, along with a 32% year-over-year increase in transaction count at 20.47 billion.

Instant money transfer (IMPS) monthly transactions reached 6.62 lakh crore in December, increasing 10% year-over-year from 6.15 lakh crore in November.

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The number of IMPS transactions increased from 369 million in November to 380 million. The daily IMPS transaction amount increased from Rs 20,506 crore in November to Rs 21,269 crore.

A new estimate claims that India now has 709 million active UPI QRs, a 21% growth from July 2024. According to a Worldline India article, scan-and-pay has become the default payment method nationally due to the widespread use of QR codes in kiranas, pharmacies, transportation hubs, and rural marketplaces.

UPI’s dominance in regular retail payments is shown in the fact that person-to-merchant (P2M) transactions continued to surpass person-to-person (P2P) transactions.

According to the research, P2M transactions increased 35% to 37.46 billion, while P2P transactions increased 29% to 21.65 billion. The average ticket size decreased from Rs 1,363 to Rs 1,262, indicating a rise in micro-transactions such food, transportation, medical necessities, and hyperlocal shopping.

An important factor in facilitating universal access to services, closing the gap between urban and rural areas, and solidifying India’s standing as a worldwide digital powerhouse has been the country’s Digital Public Infrastructure (DPI).