Average Daily UPI Transactions Hit ₹90,446 Crore in August

UPI Transactions Grow Strongly: Daily Average Reaches ₹90,446 Crore in August; SBI Tops in Payments

New Delhi, Aug 18: Unified Payments Interface (UPI) transactions in India have seen strong growth. The average daily transaction value rose from ₹75,743 crore in January to ₹90,446 crore in August 2025. The State Bank of India (SBI) led the way as the top remitter with 5.2 billion transactions, according to an SBI Research report released on Monday.

Maharashtra continues to be the leader in digital payments with a 9.8% share in July, followed by Karnataka (5.5%) and Uttar Pradesh (5.3%).

The report noted a major rise in peer-to-merchant (P2M) payments. Their share of total UPI transactions by value increased from 13% in June 2020 to 29% in July 2025. In terms of volume, P2M payments rose from 39% to 64% during the same period.

Digital payments led by UPI are growing much faster than cash in circulation (CIC).

Monthly average UPI transactions: ₹24,554 billion (April–July 2025)
Monthly average CIC growth: ₹193 billion

The report also highlighted UPI’s role in retail money demand. The share of UPI in ATM withdrawals using debit cards increased from 40% in Nov 2019, to 62% in Jan 2021, and further to a massive 91% in May 2025, showing that people are moving away from cash.

Currently, there are nearly 300 major merchant categories, though NPCI started with just 29. The top 15 merchant categories now account for 70% of transactions by volume and 47% by value.

Groceries made up 24.3% of transactions by volume and 8.8% by value.
Debt collection agencies had 12.8% share by value but only 1.3% by volume. Their transaction value rose from ₹80,789 crore in April 2025 to ₹93,857 crore in July 2025, though the average ticket size slightly declined.