UPI Transactions Rise To Record High Of Rs 24.8 Lakh Crore In March

UPI's success is driving financial inclusion, empowering underserved populations, and setting a global example for innovative and inclusive digital payment solutions, says industry experts

The Unified Payments Interface's (UPI) record-breaking Rs 24.77 lakh crore transaction volume this March represents a crowning achievement for India's homegrown financial innovation.

This extraordinary milestone showcases how a solution designed specifically for India's unique needs has transformed the nation's payment landscape.

Talking to Bizz Buzz, Deepak Verma, MD and CEO, Findi said, “The widespread adoption of UPI is building a foundation of trust in India's digital economy. As millions of Indians increasingly rely on UPI for transactions ranging from daily essentials to significant purchases, this trust is fostering comfort with digital financial services more broadly.”

This growing confidence is critical as it creates pathways for previously excluded populations to access formal financial systems, he said.

To achieve true financial empowerment across India, we must continue building a comprehensive ecosystem that addresses diverse needs, he added. The journey from Financial Inclusion to Financial Expansion requires that all citizens—particularly the underserved and underbanked—can access financial services through channels and payment methods that match their preferences and circumstances, especially for those for whom cash still remains the key medium of transaction. The ecosystem must balance innovation with inclusivity, allowing even those with limited digital literacy to participate in the growing Indian economy.

As UPI expands globally and integrates with credit, insurance, and investment platforms, its collaborative development model between regulators, financial institutions, and technology companies sets a powerful example of innovation that respects user choice while driving national progress. India isn't just participating in the digital payments revolution—it's defining it through solutions built by Indians, for Indians, that now inspire the world.

The record-breaking UPI transactions of Rs 24.8 lakh crore in March, marking a 25 per cent surge in value and an impressive 36 per cent growth in volume compared to last year, demonstrate the unstoppable momentum of India’s digital payments revolution.

With daily transactions averaging Rs 79,903 crore, up 1.9 per cent from February, and volumes rising 2.6 per cent, these numbers underscore the rapid adoption and trust in digital financial solutions.

Dilip Modi, Founder & CEO, Spice Money said, “This sustained growth signals deeper financial inclusion, enhanced consumer confidence, and a thriving digital economy.”

As UPI cements itself as the backbone of India’s payment ecosystem, businesses, fintech players, and policymakers must strategically leverage this expansion to drive innovation, enhance security, and scale financial services for the next wave of digital transformation, he added.

At Spice Money, we take immense pride in contributing to this transformation by empowering rural and underserved communities with inclusive, secure, and user-friendly fintech tools, he further said.

This exponential growth reflects the success of India’s financial inclusion policies and the collaborative efforts of the fintech ecosystem. As we celebrate this milestone, we remain steadfast in our mission to bridge the urban-rural financial divide, ensuring every Indian, from metros to villages, can actively participate in and benefit from the digital economy.