In the last five years alone, digital payments in India have increased 6.6 times in volume and 1.6 times in value
FinTech BizNews Service
Mumbai, October 23, 2025: Digital Payments in India have grown exponentially in 2014-24. During the last decade, digital transactions have increased 38 times in volume terms and more than three times in value terms, as per the ‘Payment System Report, June 2025; of the Reserve Bank.
The CAGR for the decade ending 2024 was 52.5% in terms of volume and 13% in terms of value. In the last five years alone, digital payments in India have increased 6.6 times in volume and 1.6 times in value. This amounts to a five-year CAGR of 46% in terms of volume and 10% in terms of value.
The Reserve Bank has today published the half-yearly Payment System Report, June 2025. This report, in addition to analysing the trends in payment transactions carried out using various payment systems in India during the last six calendar years up to the first half of calendar year 2025, covers important developments in the payment ecosystem and an in-depth analysis of the Real Time Gross Settlement (RTGS) system.
Payment Systems Report is a bi-annual publication from The Reserve Bank of India.
The second edition of the half-yearly Payment Systems Report for June 2025 presents an overview of the current landscape of payment systems in India. Over the years, India’s digital payments ecosystem has witnessed impressive growth, driven by increased accessibility, user adoption, and a robust acceptance infrastructure. This report highlights the continuing expansion of the Unified Payments Interface (UPI), which has completely transformed digital payments in India, and brought about significant enhancements across various payment instruments thereby promoting a diversified and inclusive payments ecosystem. These developments have helped ensure safety of payments, foster customer confidence and strengthen operational protocols. Payment Systems Reports are intended to serve as a resource for policymakers, industry participants, and researchers. The reports capture payments statistics, regulatory developments, and ongoing technological advances that are reshaping India’s payment systems. As we move forward, the Reserve Bank of India will continue to promote an efficient, resilient, and accessible payment infrastructure that supports the country’s economic growth and digital transformation.
Click to read the complete report: https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=23436
