New Delhi – India’s digital‑payment market is growing faster than ever. In the first half of 2025, more than 99 % of all payment volume and 98 % of value came from digital channels, according to the Reserve Bank of India (RBI). The bank says the trend shows a steady shift from cash to online and mobile payments.
The Unified Payments Interface, or UPI, is still the big winner. It carried 10,637 crore transactions in H1 2025, worth ₹143.3 lakh crore, a jump from ₹117 lakh crore last year. UPI accounts for 85 % of transaction volume and 9 % of total value. Its low cost, 24/7 availability, and easy‑to‑use design keep it the most popular way to pay in India.
High‑value transfers are handled mainly by the Real Time Gross Settlement (RTGS) system. RTGS made up only 0.1 % of total volume, but it dominates in value, holding 69 % of the market. In 2024, RTGS processed 29.5 crore transactions – double the 14.8 crore in 2019 – and the total value rose from ₹1,388.7 lakh crore to ₹1,938.2 lakh crore. In H1 2025, RTGS handled 16.1 crore transactions worth ₹1,079.2 lakh crore, showing its focus on large payments that start at ₹2 lakh each.
Overall, there were 1,572 lakh crore worth of payments in the first half of 2025, of which ₹1,536 lakh crore were digital. The CPI–backed data highlights how UPI, RTGS, and other systems together are driving a cashless economy.
The Clearing Corporation of India Limited (CCIL) also saw growth in its large‑value payment platforms. Transactions through CCIL jumped from 35 lakh in 2019 to 45 lakh in 2024, while the total value more than doubled from ₹1,270 lakh crore to ₹2,780 lakh crore. In H1 2025 alone, CCIL processed 28.8 lakh transactions totaling ₹1,734 lakh crore.
These figures illustrate how India’s payment infrastructure is becoming increasingly digital. The RBI’s push for more electronic transactions continues to pay off, helping the country reduce cash dependence and build a faster, more secure financial system.
Source: ianslive
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