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According to the RBI’s latest Payment Systems Report, UPI accounted for 85.5% of India’s transaction volume in H2 2025, far ahead of NEFT and PPIs at 3.6% each. RTGS handled just 0.1% of volume but dominated transaction value at 68.6%, highlighting its role in high-value settlements. The report said digital payment volumes have risen 33 times since 2016.

New Delhi: The Unified Payments Interface (UPI) commanded the largest share of transaction volume at 85.5 per cent in the second half (H2) of 2025, followed by NEFT at 3.6 per cent and Prepaid Payment Instruments (PPIs) at 3.6 per cent, according to a latest report by the Reserve Bank of India (RBI).

RTGS accounted for a mere 0.1 per cent, reflecting its role as a high-value, low-volume system.

“Conversely, in terms of transaction value, RTGS dominated with 68.6 per cent of the total transaction value, followed by NEFT at 14.9 per cent and UPI at 9.5 per cent, with PPIs contributing only 0.1 per cent — a clear illustration of how RTGS handles large-value settlements while UPI drives mass retail transactions,” said the half-yearly Payment Systems Report by the RBI.

NEFT, positioned as a hybrid system capable of processing both small and large transactions with settlement within an hour, holds the second-highest share in both volume and value, underscoring its versatility and continued relevance in India’s evolving payments ecosystem.