UPI transaction volume expected to rise to 439 bn by FY29: PwC India report

The total transaction volume on UPI is expected to increase to 439 billion by 2028-29 from about 131 billion in the last financial year and account for 91 per cent of overall retail digital payments, said a PwC India Report. The report titled ‘The Indian Payments Handbook — 2024-29’ also said India’s digital payments landscape has witnessed remarkable growth over the past eight years and the industry is projected to expand more than three times in volume, from 159 billion transactions in 2023-24 to 481 billion by 2028-29.