Digital payments to hit 617.3 billion in volume, US$ 10.23 trillion value by FY30
- IBEF
- October 13, 2025
The digital payments ecosystem has witnessed substantial growth, with transaction volume surging by 37% to 206 billion and value by 30% to Rs. 2,99,90,000 crore (US$ 3.38 trillion) YoY from FY24 to FY25. This expansion is attributed to several key factors, including advancements in new technologies, the broadening of use cases within existing payment modes, supportive government regulations, increasing smartphone and internet penetration, and the expansion of services beyond urban and metro areas. According to PricewaterhouseCoopers’ (PwC’s) 'The Indian Payments Handbook 2025-2030', digital payment volumes and values are projected to reach 617.3 billion and Rs. 9,07,30,000 crore (US$ 10.23 trillion) between FY25 and FY30. One of the most significant drivers of this growth is the use of the Unified Payments Interface (UPI) for peer-to-peer (P2P) and peer-to-merchant (P2M) transactions, with increasing adoption in Tier-2 cities and beyond.
As of August 2025, the UPI ecosystem includes 688 banks, serving 491 million individuals and 65 million merchants, making it one of the world’s largest real-time payment systems in terms of volume. The continued growth of digital payments is expected to be sustained by these factors, further driving the adoption and expansion of digital payment solutions across the country.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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