Key Takeaways
- Digital payments made up 99.8% of all transaction volume in H1 2025
- UPI processed 10,637 crore transactions worth Rs 143.3 lakh crore
- RTGS dominated value share at 69% despite low volume percentage
India’s digital payment revolution has reached a historic milestone, with digital transactions accounting for 99.8% of all payment volume in the first half of 2025, according to Reserve Bank of India data. The digital transformation also captured 97.7% of the total transaction value, signaling a massive shift toward cashless economy.
UPI Dominates Transaction Volume
The Unified Payments Interface (UPI) continued its remarkable growth, processing 10,637 crore transactions valued at Rs 143.3 lakh crore during H1 2025. This represents a significant increase from Rs 117 lakh crore in the previous year.
The RBI attributed UPI’s success to its effectiveness, 24/7 accessibility, and user-friendly interface, making it India’s most popular retail fast payment system.
RTGS Leads in High-Value Transactions
While representing just 0.1% of transaction volume, the Real Time Gross Settlement (RTGS) system dominated the value share at 69%. RTGS handled 16.1 crore transactions totaling Rs 1,079.2 lakh crore in H1 2025 alone.
The system has shown consistent growth, with transactions increasing from 14.8 crore in 2019 to 29.5 crore in H1 2025. The transaction value surged from Rs 1,388.7 lakh crore to Rs 1,938.2 lakh crore during this period.
The RBI explained that RTGS specializes in large-value transfers with a minimum threshold of Rs 2 lakh, while UPI processes numerous small-value transactions.
CCIL Expansion Continues
The Clearing Corporation of India Limited’s (CCIL) payment systems also expanded significantly. Transaction volume grew from 35 lakh in 2019 to 45 lakh in 2024, while value jumped from Rs 1270 lakh crore to Rs 2780 lakh crore.
In the first half of 2025 alone, CCIL processed 28.8 lakh transactions worth Rs 1734 lakh crore.
The comprehensive RBI data demonstrates how UPI and other digital innovations, combined with sustained efforts to promote cashless transactions, have fundamentally transformed India’s payment ecosystem.
(With inputs from IANS)
