UPI transactions dip after festive rush, but digital payments keep booming

Business Dec 01, 2025

UPI payments took a small step back in November—dropping to 20.47 billion transactions worth ₹26.32 lakh crore, just below October's record numbers.
The reason? October was packed with festivals like Diwali and Dussehra, plus GST cuts that got everyone spending more.
Even with the slight drop, UPI is still up 32% in volume and 22% in value compared to last year.

People are making more small payments

November saw an average of 682 million UPI transactions per day, totaling about ₹87,721 crore daily.

Not just UPI: other payment trends

IMPS and AePS saw fewer transactions this month, but Fastag (for tolls) kept growing.
Meanwhile, NPCI—the group behind these systems—reported a strong year with profits up by nearly 42% and revenue rising too.
Digital money moves aren't slowing down anytime soon!