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Below the Perspective on number of UPI transactions done in November 2025 by Mr. Ramakrishnan Ramamurthy, Chief Delivery and Operations Officer - India, Worldline

“UPI continues to cement its leadership in India’s digital payments landscape, with monthly volumes now stabilising at record levels. From 19.63 billion transactions in September, activity jumped to 20.70 billion in October—boosted by festive demand, expanding merchant networks, and growing adoption across smaller cities. The introduction of full delegation within UPI Circle is also enabling a new segment of customers to seamlessly join the platform while maintaining strong security standards. Meanwhile, the festive-season surge has now normalised to levels even higher than those seen in September 2025, indicating sustained momentum and a structurally rising base for digital payments in the country. November maintained this strong pace with 20.47 billion transactions, signalling that the October surge was not merely festive-driven but indicative of a sustained behavioural shift among users.

Transaction values followed a similar trajectory, rising from Rs.24.90 lakh crore in September to a significant Rs.27.28 lakh crore in October, before easing slightly to Rs.26.32 lakh crore in November. Despite this moderation, UPI continues to comfortably operate above the Rs.26 lakh crore threshold, pointing to healthy economic activity and rising confidence in high-value digital payments. The average daily transaction count—consistently in the 660–680 million range for October and November—further highlights UPI’s ability to deliver reliability at massive scale. Taken together, these month-on-month trends reflect a rapidly maturing digital payments ecosystem, where high-frequency, high-value transactions have become part of everyday life. UPI’s steady performance underscores its role as a foundational pillar of India’s cashless economy.”

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