The Unified Payments Interface (UPI) set a new record in May 2025 with 18.68 billion transactions. This is 4.4% more than the 17.89 billion in April. This is a 33% increase over the same month last year.<\/p>\n\n\n\n
According to the National Payments Corporation of India (NPCI), the total value of UPI transactions in May was \u20b925.14 lakh crore, 5% more than the \u20b923.95 lakh crore in April. The average daily transaction count rose to 602 million, with an average daily transaction value of \u20b981,106 crore.<\/p>\n\n\n\n
PhonePe and Google Pay remain the leading UPI apps, together holding nearly 80% of the market. In April, PhonePe handled 8.36 billion transactions, while Google Pay handled 6.48 billion transactions worth Rs 8.42 lakh crore. Paytm is close behind with a market share of around 7%. Other apps like CRED, Navi, Amazon Pay, and FamApp are also in the fray.<\/p>\n\n\n\n
While NPCI is planning to cap the market share of any third-party UPI app at 30%, the rule has been delayed several times, with the new deadline set for December 31, 2026.<\/p>\n\n\n\n
Meanwhile, there is a growing demand from the payments industry to end the zero merchant discount rate (MDR) policy. MDR is a fee charged by merchants for accepting digital payments. From 2020, this fee will not be applicable to UPI and RuPay to encourage digital migration.<\/p>\n\n\n\n
The Payments Council of India and the Startup Policy Forum have urged the government to allow a 0.30% MDR for large merchants to help payment companies cover costs and invest in better infrastructure. However, the government is yet to take a final decision.<\/p>","protected":false},"excerpt":{"rendered":"
The Unified Payments Interface (UPI) set a new record in May 2025 with 18.68 billion transactions. This is 4.4% more than the 17.89 billion in April. This is a 33% increase over the same month last year.\n\nAccording to the National Payments Corporation of India (NPCI), the total value of UPI transactions in May was \u20b925.14 lakh crore, 5% more than the \u20b923.95 lakh crore in April. The average daily transaction count rose to 602 million, with an average daily transaction value of \u20b981,106 crore.<\/p>","protected":false},"author":9,"featured_media":7885,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[11],"tags":[111,339,134,340,341],"class_list":["post-5236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-news","tag-business-growth","tag-latest-upi-updates","tag-start-up-growth","tag-upi-news","tag-upi-updates"],"yoast_head":"\n