16% of card spends happen on RuPay, half of it on credit via UPI: National Payments Corporation of India (NPCI)

Around 16% of all credit card spending occurs on the RuPay card network, with nearly half of these transactions made via credit on Unified Payments Interface (UPI), according to National Payments Corporation of India (NPCI) Chief Mr. Dilip Asbe. Speaking at Mumbai Tech Week 2025, he stated that over 30 banks are currently issuing RuPay cards. RuPay, India's indigenous payment network, operates on NPCI's infrastructure. As per the latest Ministry of Finance data, RuPay credit on UPI recorded over 750 million transactions worth Rs. 63,825.8 crore (US$ 7.30 billion) by October in FY25, compared to 362.8 million transactions valued at Rs. 33,439.2 crore (US$ 3.83 billion) in FY24.   

NPCI is establishing a global headquarters of five lakh square feet at Mumbai’s Bandra-Kurla Complex. Its 5,000-member capacity serves as its research and development (R&D) centre to support international expansion. The Mumbai Metropolitan Region Development Authority (MMRDA) has allocated land for this infrastructure. He highlighted that artificial intelligence (AI) is a key focus area, with NPCI International Payments (NIPL) leading the global rollout of its products. UPI is set to launch in countries popular with Indian tourists, including Qatar, Thailand, and the broader Southeast Asian region. Currently, UPI payments are accepted in seven countries, including Bhutan, Mauritius, Nepal, Singapore, Sri Lanka, and France, with 20 apps such as BHIM, PhonePe, Paytm, and Google Pay facilitating international transactions. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.