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Below the Perspective on UPI transactions done in November by Mr. Sunil Rongala, Worldline India

“After reaching a record high in October 2024 of 16.58 billion transactions and a value of Rs.23.50 lakh crores, UPI transactions in November 2024 saw a dip to 15.48 billion transactions and a value of Rs. 21.55 lakh crore. This however is nothing out of the ordinary; October being the festive season saw a spike in transactions which is usually seen across all spending channels. The number to consider is September 2024 transactions which was 15.04 billion indicating that UPI transactions are generally on a secular rise month-on-month.

Given the trend and increased smartphone penetration as well as new use cases as well as UPI on feature phones, it will be no surprise if the number of UPI transactions touches 25 billion a month towards the end of 2025.”

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