UPI handles 85% of India's payment volumes but just 9.5% of value; RTGS rules at 68.6%
RBI's H2 CY2025 Payments System Report shows UPI dominating retail-scale transactions while RTGS carries the bulk of payment value. UPI volumes grew at 55.8% CAGR, displacing debit cards which contracted at -24.4% CAGR. Total system volume hit 26,819 crore transactions.
RBI's Payments System Report shows UPI handled 85.5% of India's payment volumes but only 9.5% of value in H2 CY2025, while RTGS dominated value at 68.6%. UPI's rise has displaced debit cards, whose volumes fell at -24.4% CAGR.