India’s Unified Payments Interface processed 16.73 billion transactions in December 2024, according to a Ministry of Finance briefing published on 17 January 2025. Their combined value was Rs23.25 lakh crore, compared with Rs21.55 lakh crore in November.
Across 2024, the briefing put UPI volume at around 172 billion transactions, an increase of 46% from 117.64 billion in 2023. UPI links bank accounts through participating mobile applications and supports transfers as well as payments to merchants.
Other payment channels also expanded in December. Immediate Payment Service recorded 441 million transactions, up from 407.92 million in November. FASTag toll-payment volumes rose to 381.98 million from 358.84 million over the same monthly comparison, according to the government release.
The figures offer a historical view of how digital infrastructure supported everyday commerce. Transaction volume counts payments, while transaction value measures the amount transferred; the two describe different aspects of usage. This report records the January 2025 announcement and does not present those volumes as the payment system’s latest operating figures.