Digital payments surge as UPI records 25% growth in April

India’s digital payments ecosystem began the financial year on a robust note, with Unified Payments Interface (UPI) recording 22.35 billion transactions in April, marking a 25 per cent year-on-year growth, according to data released by the National Payments Corporation of India (NPCI) on Friday.In value terms, UPI transactions reached Rs29.03 lakh crore during the month, reflecting a 21 per cent annual increase and underscoring the platform’s continued dominance in India’s fast-expanding digital payments landscape.
On a daily basis, transaction volumes averaged 745 million in April, up from 730 million recorded in March. The average daily transaction value also rose to Rs96,766 crore, compared to Rs95,243 crore in the previous month.
Meanwhile, Immediate Payment Service (IMPS) transactions stood at 362 million in April, with a total value of Rs7.01 lakh crore, registering a 13 per cent year-on-year growth. Average daily IMPS transactions increased to 12.08 million, indicating sustained traction across digital payment modes.April’s figures follow a record-breaking March, when UPI clocked its highest-ever monthly transaction volume of 22.64 billion since its launch in 2016.Developed by NPCI under the regulatory oversight of the Reserve Bank of India (RBI), UPI has evolved into the backbone of India’s digital payments ecosystem. Since its launch on April 11, 2016, the platform has witnessed exponential growth, driven by widespread adoption, ease of use, and seamless interoperability.
According to information, UPI is now operational in more than eight countries, including the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius and Qatar, strengthening India’s global fintech footprint. Its growing international presence is facilitating cross-border payments, boosting remittances, and promoting financial inclusion.According to the Ministry of Finance, UPI has recorded an extraordinary nearly 12,000-fold increase in transaction volume over the past decade. From just 2 crore transactions in FY2016–17, the platform processed over 24,162 crore transactions in FY2025–26.In value terms, transactions surged from Rs0.07 lakh crore in its first year to around Rs314 lakh crore in FY2025–26, marking an increase of over 4,000 times. This rapid expansion reflects UPI’s growing relevance not only for small retail payments but also for high-value transactions.
Global recognition has further cemented UPI’s position, with the International Monetary Fund (IMF) acknowledging it as the world’s largest real-time payment system by transaction volume.The sustained growth trajectory highlights India’s leadership in digital public infrastructure, with UPI continuing to drive innovation, efficiency, and financial inclusion across the economy.

(Business Correspondent)