According to NPCI data, the UPI network processed over 590 million transactions daily on average in March. Between FY20 and FY25
Union Minister for Finance and Corporate Affairs Nirmala Sitharaman (PTI)
New Delhi: After the recent multiple disruptions in the UPI payment system, the finance minister has stepped into action for the frequent UPI outage and laid out a roadmap for its improvement. She also urged all stakeholders to collaborate in addressing the existing infrastructure gaps and set an ambitious target for achieving one billion UPI transactions per day within the next 2-3 years.
In a high-level review meeting on Monday evening, the finance minister also emphasised to enhance the resilience, scalability, and real-time monitoring of the UPI infrastructure to ensure uninterrupted service delivery and strengthen user trust. The move of the government comes after three major outages that UPI encountered recently, with users across the country facing transaction failures on April 12, marking the third incident in less than two weeks. Prior outages were reported on March 26 and April 2.
According to NPCI data, the UPI network processed over 590 million transactions daily on average in March. Between FY20 and FY25, UPI transactions registered a compound annual growth rate (CAGR) of 72 per cent. The minister also emphasised the importance of accelerating the internationalisation of UPI through the development of interoperable frameworks and expanding its global payment acceptance.
However, NPCI officials told FM Sitharaman that between FY22 and FY25, around 260 million new users and 55 million new merchants have been successfully on-boarded on the UPI platform. UPI now has approximately 450 million annually active users. In FY25, UPI transactions amounted to ~261 trillion, a 30 per cent Y-o-Y growth. Similarly, in terms of volume, 18,586 crore transactions took place in FY25, a 42 per cent Y-o-Y growth.
In a high-level review meeting on Monday evening, the finance minister also emphasised to enhance the resilience, scalability, and real-time monitoring of the UPI infrastructure to ensure uninterrupted service delivery and strengthen user trust. The move of the government comes after three major outages that UPI encountered recently, with users across the country facing transaction failures on April 12, marking the third incident in less than two weeks. Prior outages were reported on March 26 and April 2.
According to NPCI data, the UPI network processed over 590 million transactions daily on average in March. Between FY20 and FY25, UPI transactions registered a compound annual growth rate (CAGR) of 72 per cent. The minister also emphasised the importance of accelerating the internationalisation of UPI through the development of interoperable frameworks and expanding its global payment acceptance.
However, NPCI officials told FM Sitharaman that between FY22 and FY25, around 260 million new users and 55 million new merchants have been successfully on-boarded on the UPI platform. UPI now has approximately 450 million annually active users. In FY25, UPI transactions amounted to ~261 trillion, a 30 per cent Y-o-Y growth. Similarly, in terms of volume, 18,586 crore transactions took place in FY25, a 42 per cent Y-o-Y growth.
( Source : Deccan Chronicle )
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