India’s Unified Payments Interface (UPI) is rapidly closing in on Visa, the world’s leading payments company, in terms of daily transaction volume. If current trends continue, UPI will soon overtake Visa to become the top payment settlement platform globally. According to a report by Moneycontrol, UPI handled 644 million transactions on June 1 and 650 million on June 2, 2025. In comparison, Visa processed an average of 639 million transactions per day during FY24. However, Visa does not share daily transaction data publicly.
UPI Shows Fastest Growth Among Global Platforms
In May 2025, UPI averaged 602 million daily transactions. Visa’s average stood at 674 million in the March 2025 quarter. However, UPI’s growth rate far outpaces Visa. UPI logs a monthly growth rate of 5–7% and an annual growth rate of 40%. Visa, on the other hand, grows at about 10% annually. Based on this data, experts expect UPI to surpass Visa’s daily volume in the next two to three months.
Government Eyes 1 Billion Daily Transactions
The National Payments Corporation of India (NPCI), which operates UPI, and the Government of India aim to achieve 1 billion daily UPI transactions in the near future. This goal seems increasingly achievable given UPI’s recent performance and growing user adoption.
May 2025 Marks UPI’s Record Month
In May 2025, UPI hit a new high in both volume and value of transactions. NPCI data shows that users made 1,867.7 crore transactions in May. That’s up from 1,789.3 crore in April. In terms of value, UPI transactions totaled ₹25.14 lakh crore in May. This marked a 5% increase over April’s figure of ₹23.94 lakh crore. On a year-on-year basis, the transaction value jumped by 23%. In May 2024, UPI recorded ₹20.44 lakh crore in total transaction value.
Daily Payment Value Reaches New Heights
UPI’s average daily transaction value in May 2025 was ₹81,106 crore. This is 1.5% higher than April’s average of ₹79,831 crore. This consistent growth shows strong momentum and increasing user trust in digital payments.
Digital Shift Gains Nationwide Trust
UPI’s adoption continues to surge as more Indians prefer digital payments over cash. The system’s speed, security, and simplicity make it the top choice for millions. With more banks, apps, and services integrating UPI, usage is expected to rise even further.
Industry Leaders Celebrate UPI’s Success
Spice Money’s founder and CEO Dilip Modi praised UPI’s milestone. He said, “The record-breaking milestone of 1,868 crore UPI transactions worth ₹25.14 lakh crore in May 2025 is a resounding testament to India’s growing digital payment ecosystem and the deepening trust in UPI as a preferred mode of transaction.”