UPI Growth Continues Across Financial Years
India’s digital payment system UPI continues breaking records steadily. Furthermore, FY26 transactions may reach 240 billion. Additionally, this reflects nearly 30 percent growth compared to last year. Moreover, NPCI data supports this rising trend clearly. Consequently, digital payments expand rapidly. Therefore, adoption continues increasing across India.
Yearly Transaction Numbers Show Strong Rise
UPI usage shows consistent growth year after year. Furthermore, FY24 recorded 131 billion transactions. Additionally, FY25 increased that number to 185 billion. Moreover, FY26 may touch 240 billion transactions. Consequently, this shows sustained upward momentum. Therefore, digital payment adoption remains strong nationwide.
Growth Slightly Slower but Still Significant
Growth in FY26 remains slightly lower than previous year. Furthermore, FY25 recorded 41 percent growth. Additionally, FY26 growth may stay near 30 percent. Moreover, this still indicates strong expansion. Consequently, usage continues rising across sectors. Therefore, digital payments maintain a steady trajectory.
Daily Transactions Reach New Highs
UPI also achieved major milestones in daily usage numbers. Furthermore, average daily transactions reached 657 million this year. Additionally, last year recorded 506 million daily transactions. Moreover, March crossed 800 million daily transactions for the first time. Consequently, growth continues accelerating. Therefore, future targets appear achievable.
Government Targets Higher Daily Usage
Authorities aim to push daily transactions even higher. Furthermore, NPCI and government target one billion daily transactions. Additionally, current momentum supports this ambition. Moreover, next financial year may achieve this milestone. Consequently, digital infrastructure strengthens further. Therefore, UPI usage may expand significantly.
Fintech Firms Demand MDR Return
Payment companies now demand a revised revenue model. Furthermore, they want Merchant Discount Rate reintroduced. Additionally, MDR earlier stood at 0.3 percent. Moreover, the government removed MDR in 2020. Consequently, companies now depend heavily on subsidies. Therefore, they seek stable income sources.
Proposal Targets Large Merchants
Fintech firms propose MDR for specific merchants. Furthermore, they suggest applying it to large businesses. Additionally, the threshold targets merchants with turnover above Rs 40 lakh. Moreover, companies believe this ensures steady revenue. Consequently, discussions around MDR intensify. Therefore, policy decisions may shape future payments ecosystem.
