India’s digital payments ecosystem saw a new milestone in March 2025. Unified Payments Interface (UPI) transactions surged to ₹24.77 lakh crore, marking the highest monthly total ever recorded.

Data released by the National Payments Corporation of India (NPCI) on April 1 shows that March was the eleventh consecutive month of UPI transactions surpassing the ₹20-lakh-crore mark.

The value of UPI transactions grew by 25% compared to March 2024. Volumes also saw impressive growth, rising 36% year-on-year.

Empowering your financial transactions with easy, safe & instant money transfers through UPI. Time to stay #AlwaysForward. #UPI #DigitalPayments@GoI_MeitY I @_DigitalIndia I @RBI I @dilipasbe I @UPI_NPCI pic.twitter.com/Cu3CzVcvVp

— NPCI (@NPCI_NPCI) April 1, 2025

March alone saw 18.3 billion UPI transactions.

For the January-March quarter, the value of UPI transactions reached ₹70.2 lakh crore, a 24% increase from the same period last year.

The average transaction value stood at ₹79,903 crore per day, up 1.9% from February, while transaction volumes rose by 2.6%.

However, the value per transaction dropped to ₹1,353.6, its lowest in eight months, reflecting a shift towards smaller, more frequent transactions.

Dilip Modi, Founder & CEO of Spice Money, said, “With growth in both volume and value, these numbers underscore the rapid adoption of digital payments and the deepening trust in India’s fintech ecosystem.”