Breaking down the UPI revolution in India | Number Theory | Hindustan Times
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Mon, Sep 15, 2025
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Breaking down the UPI revolution in India | Number Theory

BySreedev Krishnakumar
Updated on: Aug 14, 2025 08:05 AM IST

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The value of Unified Payments Interface (UPI) transactions in India was ₹25 lakh crore in July 2025. Given the fact that UPI came into being less than a decade ago — it was launched in July 2016 — and had transactions of just ₹38 lakh in its first month, this is a huge revolution in India’s payments space. What do Indians UPI on? Who do they UPI to? (Yes, it’s now a verb that can be used in several contexts, that’s how popular it is) . How popular is UPI compared to other retail payment methods? Here are three charts which answer these questions.

UPI has pretty much substituted traditional ways of making interpersonal payments.(Representative image)
UPI has pretty much substituted traditional ways of making interpersonal payments.(Representative image)
Breaking down the UPI revolution in India
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