UPI hits record ₹29.9 lakh cr in May as IPL, summer travel lift retail spend
23.2 billion transactions clocked in May, up 24% YoY in volume and 19% in value. Average ticket size slipped to ₹1,313, signaling deeper merchant penetration into everyday retail. Credit-on-UPI and cross-border acceptance across 7 countries emerge as next growth pools.
UPI hit a record ₹29.9 lakh crore across 23.2 billion transactions in May, driven by summer travel and IPL spending. Average ticket size is shrinking, signaling maturing merchant adoption. Credit-on-UPI and cross-border rails flagged as next growth pools for Indian retail.