Overview
- NPCI data released Wednesday show UPI hit 22.64 billion transactions in March worth ₹29.53 lakh crore, up 11% in count and 10% in value from February.
- Daily activity averaged 730 million payments with ₹95,243 crore moved each day, while year-on-year growth reached 24% in volume and 19% in value.
- Festivals and the financial year close lifted spending, as small towns contributed about 45% of total traffic, pointing to deeper reach beyond major cities.
- Platform rankings continued to cluster at the top, with PhonePe leading, Google Pay second, and Paytm third by March transaction counts.
- UPI’s reach now extends outside India with acceptance in seven countries, including France as its first foothold in Europe, even as regulators push stronger authentication to safeguard the system at scale.