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The Unified Payments Interface (UPI) continued its rapid rise in November 2025, crossing over 19 billion transactions worth Rs 24.58 lakh crore as of November 28, according to data released by the National Payments Corporation of India (NPCI). This marked a sharp increase compared to the same period last year, when UPI recorded 15.48 billion transactions valued at Rs 21.55 lakh crore in November 2024. The steady year-on-year growth highlights how digital payments have become deeply embedded in India's everyday life.

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Strong Year-on-Year Growth

The latest figures show that UPI's transaction volume in November 2025 grew by about 23 per cent from November 2024, while the transaction value rose by nearly 14 per cent. When compared to November 2023, the growth looks even stronger. UPI transactions have increased by nearly 70 per cent in volume and over 41 per cent in value in just two years.

Rapid Five-Year Transformation

NPCI data also shows a consistent surge over the past five years. In November 2021, UPI logged only 4.18 billion transactions valued at Rs 7.68 lakh crore, and by November 2022, the figures had nearly doubled. Since then, the system has maintained an upward trajectory, underlining India's rapid shift from cash to digital modes of payment. The five-year trend presents a clear picture of this transformation. From 2021 to 2025, UPI's transaction volume has grown more than fourfold, while the total value of transactions has increased by over threefold. This remarkable rise underscores the platform's role as the backbone of India's digital payment ecosystem.

Financial Year Performance and Growth Drivers

For the financial year 2025-26 so far, UPI has processed 12.41 billion transactions, with an average daily volume of 689.60 million and an average daily value of Rs 91,324.77 crore. In comparison, during the corresponding period in 2024-25, the average daily volume stood at 516.07 million and the average daily value at Rs 71,839.58 crore, reflecting a clear increase in both the number and size of transactions. This consistent growth can be attributed to increasing smartphone penetration, simplified payment interfaces, and widespread acceptance of QR-based payments by small and large merchants alike. (ANI)