UPI powers 84% of total retail payments in FY25; Central Bank Digital Currency trials gain ground

UPI dominates retail payments - The Unified Payments Interface (UPI) has significantly strengthened its dominance in India's digital retail payments ecosystem. According to the Reserve Bank of India (RBI) data, UPI's contribution to the total volume of non-cash retail payments surged to 83.4% in FY25, up from 79.4% in FY24. UPI recorded 185.8 billion transactions during FY25, a 41.7% increase year-on-year, highlighting its widespread adoption and crucial role in India's digital economy.