Unified Payments Interface achieved a remarkable milestone in December 2025 by processing 21.63 billion transactions, marking the highest monthly transaction volume ever on the platform. This figure represents a 29% increase when compared to the same period last year, as reported by the National Payments Corporation of India. In terms of value, UPI transactions reached an astonishing Rs 27.97 lakh crore. The platform managed an impressive average of 698 million transactions each day, with the average transaction value standing at Rs 90,217 crore. Month on month, the transaction volumes saw an increase from 20.47 billion in November, while the transaction value also rose from Rs 26.32 lakh crore. In November, UPI experienced significant year-on-year growth, reporting a 32% increase in transaction volumes and a 22% rise in transaction value, with December surpassing all prior months in transaction count.
Factors Driving the Growth of Unified Payments Interface
UPI’s ongoing expansion can be attributed to robust adoption among consumers for everyday spending and merchant payments. Data from November illustrated increased activity in categories such as groceries, food services, telecommunications, and fuel. This trend indicates a deeper integration of digital payments into regular transactions.
Market Share Dynamics in December
While the app-specific data for December is yet to be released, figures from November highlighted PhonePe solidifying its leadership position in the market. Meanwhile, Google Pay experienced a slight decline in its market share. Paytm maintained its status as the third-largest player, with smaller applications like Navi, super.money, Cred, and BHIM gaining an increasing portion of the overall transaction volumes.