According to Worldline reports, UPI transaction volume could reach 25-30 billion by early 2026

UPI transaction volume could reach 25-30 billion by early 2026. Global financial services firm Worldline, which released the India Digital Payments Report 1H 2024, said the number of UPI transactions increased from 8.03 billion in January 2023 to 13.9 billion in June 2024.

The growth is primarily driven by P2M (person to merchants) transactions where UPI users are making payments to merchants. In absolute numbers, the total P2M transactions volume grew from 29.15 billion in H1 2023 to 48.94 billion in H1 2024, a growth of 68 per cent year on year, while the value of transactions grew from ₹19.39 trillion to ₹31.45 trillion, a 62 per cent increase.