UPI’s Record-Breaking July 2025
The Unified Payments Interface (UPI) hit a new high in July 2025, processing 19.47 billion transactions worth ₹25.08 lakh crore. This milestone, according to the National Payments Corporation of India (NPCI), shows a significant jump in digital payment adoption.
Key Highlights from the Data:
- Growth from June 2025: July’s figures represent a 5.8% increase in transaction volume and a 4.3% rise in transaction value compared to June, when UPI processed 18.40 billion transactions valued at ₹24.04 lakh crore.
- Year-on-Year Performance: On a year-over-year basis, UPI volumes surged by 35%, and the total transaction value grew by 22% compared to July 2024.
- Daily Averages: The average daily transaction count for the month reached 628 million.
Dilip Modi, Founder & CEO of Spice Money, commented on the trend, noting that the consistent growth signals that more people—including small businesses and rural customers—are shifting from cash to digital payments for their daily transactions.
While the app-specific data for July isn’t available yet, June’s numbers highlighted the market leaders:
- PhonePe was dominant, handling 46.5% of the transaction volume and nearly 50% of the total value.
- Google Pay followed with a 35.6% share by volume and 35% by value.
- Paytm held a 6.9% share in volume and 5.6% in value.
Developed by NPCI, UPI continues to be India’s most popular digital payment system for both person-to-person and merchant payments.