Source: Entrackr
August 1, 2025, New Delhi: The month of July saw the UPI reach a new peak in transaction processing, with a mammoth 19.47 billion transactions worth ₹25.08 lakh crore, according to data from NPCI (National Payments Corporation of India).
In the month of June 2025, UPI had transacted 18.40 billion times worth ₹24.04 lakh crore, which means that July saw an increase of 5.8% in volume and 4.3% in value. The average number of transactions per day in July 2025 was about 628 million.
Strong Growth Over the Year
The number of transactions via the UPI rose by 35% in July 2024, while the total value of transactions was up by 22%. This is indicative of the climbing speed at which digital payments are going up in India, especially for everyday type purchases.
Which Apps Are Having a Great Run?
Until the detailed app-wise data for July is made available, the figures of June show:
- PhonePe accounted for 46.5% of total UPI transactions, and almost 50% in terms of value.
- Google Pay held a volume share of 35.6% and a value share of 35%.
- Paytm was third, with 6.9% share by volume and 5.6% share by value.
Global Expansion of UPI
UPI is now live in Bhutan, Nepal, Mauritius, Sri Lanka, Singapore, France, Oman, and the UAE. NPCI is working on extending it to Qatar, Thailand, Malaysia, and other Southeast Asian countries. The countries keen on joining also include the UK, Oman, the Maldives, and Namibia.
This expansion in other markets is driving UPI towards a global platform for instant payments.
ICICI Bank Starts Charging for UPI
With this major move, ICICI Bank has now started charging large merchants and payment aggregators for UPI transactions. This is the end of the zero-fee model, where merchants were not required to pay for receiving money through UPI. This might get other banks to follow suit and tweak the ways UPI works for merchants.
What’s Next?
UPI continues to grow fast in India and overseas. As more users join, more countries come into the fold, and new policies get rolled out, it is now fully apparent that UPI is going to be an important part of its own digital economy.
The record figures in July 2025 show just how famous UPI has become and how it is shaping the future of payments.
