India’s digital payment system, UPI, is quickly catching up to Visa in daily global transactions. According to reports, UPI processed “644 million transactions on June 1” and “650 million on June 2.”
In comparison, Visa averaged “639 million transactions per day” during FY24. Although Visa does not release its daily data, its March 2024 quarter saw a slightly higher daily average of “674 million.”
Meanwhile, UPI averaged “602 million daily transactions in May,” showing how fast it is closing the gap.
UPI’s Fast-Paced Growth
UPI continues to grow at a rapid pace. Monthly growth stands at “5 to 7 percent,” and yearly growth hits “a whopping 40 percent.” On the other hand, Visa’s annual transaction volume grows by just “10 percent.”
Based on this pattern, experts believe that UPI could overtake Visa in the next “two to three months.”
New Milestone in May
UPI hit a record high in May 2025, both in volume and value. NPCI reported “1,867.7 crore transactions” for the month, compared to “1,789.3 crore in April.”
In terms of value, May saw “₹25.14 lakh crore,” which was a “5 percent rise” from April’s ₹23.94 lakh crore. This was also a sharp jump from “₹20.44 lakh crore in May 2024,” marking a “23 percent annual growth.”
UPI’s average daily transaction value also rose. It reached “₹81,106 crore in May,” slightly up from “₹79,831 crore in April.”
Big Goals Ahead
The government and NPCI, which manage UPI, are aiming higher. Their target is to reach “1 billion transactions per day.”
Industry leaders praised UPI’s growth. Dilip Modi, founder and CEO of Spice Money, called the May milestone “a resounding testament to India’s growing digital payment ecosystem.” He also said that it shows “deepening trust in UPI as a preferred mode of transaction.”
