Press release
India Unified Payments Interface (UPI) Market is Expected to Reach USD 478.9 Billion by 2033
The report also includes competitor and regional analysis, along with a breakdown of segments within the industry. The India UPI market size reached USD 16.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 478.9 Billion by 2033, exhibiting a growth rate (CAGR) of 45% during 2025-2033.
Report Attribute and Key Statistics:
Base Year: 2024
Forecast Years: 2025-2033
Historical Years: 2019-2024
Market Size in 2024: USD 16.9 Billion
Market Forecast in 2033: USD 478.9 Billion
Market Growth Rate (2025-2033): 45% CAGR
Overview of India Unified Payments Interface (UPI) Market:
India Unified Payments Interface (UPI) market is undergoing a revolutionary expansion, transforming from a peer-to-peer payment system to a true digital payment solution for high-value payments, merchant payments, and cross-border remittances. UPI integration with credit lines, wallets, and overdraft facilities has enhanced its use, and now it is the preferred choice of consumers as well as businesses. Regulatory support, technology, and increasing smartphone penetration are also pushing the adoption of UPI across various industries to establish it as a cornerstone of India's digital economy.
Request for Sample Report: https://www.imarcgroup.com/india-unified-payments-interface-market/requestsample
India Unified Payments Interface (UPI) Market Trends and Drivers:
The UPI market is also witnessing a robust trend towards high-value transactions, led by enhanced consumer confidence and widespread merchant adoption. The inclusion of features like UPI credit lines and PoS integration has rendered it feasible for application in sectors such as e-commerce, retail, and services. Additionally, the Reserve Bank of India's initiative to raise transaction limits for some segments, such as education and healthcare, has further boosted the feasibility of UPI. The inter-operability of the platform with international markets is also encouraging cross-border payments, further solidifying its place in international finance transactions.
Key drivers of the UPI market are the Indian government's push towards a cashless economy, increasing smartphone and internet penetration, and consumers' increasing preference for digital payments. Initiatives such as encouraging low-value BHIM-UPI transactions by small traders and extending UPI to rural India through UPI Lite and offline payment technologies are increasing accessibility. Furthermore, collaborations among fintech players, banks, and technology providers are fostering innovation, resulting in the development of easy-to-use and secure UPI-based payment solutions.
Browse Full Report with TOC & List of Figures: https://www.imarcgroup.com/india-unified-payments-interface-market
India Unified Payments Interface (UPI) Market of Key Growth Drivers:
• Government initiatives promoting digital payments and financial inclusion.
• Rising smartphone and internet penetration facilitating UPI adoption.
• Integration of UPI with credit lines, wallets, and PoS systems.
• Expansion of UPI services into rural and underserved areas.
• Increasing consumer preference for contactless and real-time payment solutions.
• Collaborations between financial institutions and technology providers driving innovation.
India Unified Payments Interface (UPI) Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional and national levels for 2025-2033. The report has categorized the market based on type, application, and region.
Type Insights:
• Person-to-Person (P2P)
• Person-to-Merchant (P2M)
Application Insights:
• Retail
• Hospitality
• Healthcare
• Utilities
• Others
Regional Insights:
• North India
• West and Central India
• South India
• East India
Competitive Landscape:
The market research report has also provided a comprehensive analysis of competition. Competitive analysis such as market structure, positioning of major players, top winning strategies, competitive dashboard, and company evaluation quadrant have been covered in the report. Additionally, full-profile analysis of all top players has been provided.
Key companies include:
• PhonePe Pvt. Ltd.
• Google Pay (Alphabet Inc.)
• Paytm (One97 Communications Ltd.)
• Amazon Pay (Amazon.com, Inc.)
• BHIM (National Payments Corporation of India)
India Unified Payments Interface (UPI) Market News:
• October 2024: UPI processed a record 16.58 billion transactions in a single month, highlighting its growing role in India's digital payment ecosystem.
• August 2024: The Reserve Bank of India raised the transaction limit for UPI payments in education and healthcare sectors, facilitating higher-value transactions.
• July 2024: NPCI announced the integration of UPI with international payment systems, enabling cross-border transactions and expanding its global reach.
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.
Ask an analyst for your customized sample: https://www.imarcgroup.com/request?type=report&id=31732&flag=C
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No.: +91 120 433 0800
Americas: +1 631 791 1145 | Asia: +91-120-433-0800 | UK: +44-753-714-6104
About Us:
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release India Unified Payments Interface (UPI) Market is Expected to Reach USD 478.9 Billion by 2033 here
News-ID: 3994161 • Views: …
More Releases from IMARC Group
IT Outsourcing Market Size, Share, Trends And Growth Report 2025-2033
Overview IT Outsourcing Market:
The IT Outsourcing Market is rapidly evolving, driven by the need for cost efficiency and access to specialized skills. Companies increasingly outsource IT functions such as application development, infrastructure management, and business process outsourcing to third-party vendors. This trend allows organizations to focus on core competencies while leveraging advanced technologies. Key regions include North America, Europe, and Asia-Pacific, with North America leading due to its robust IT…
Urban EV Shift Drives India Electric Scooter Market to USD 3.0 Billion by 2033, …
India Electric Scooter Market 2025-2033
According to IMARC Group's report titled "India Electric Scooter Market Size, Share, Trends and Forecast by Drive, Battery, Product, Battery Fitting, End Use, and Region, 2025-2033", The report offers a comprehensive analysis of the industry, including India electric scooter market growth, share, trends, and regional insights.
How Big is the India Electric Scooter Industry?
The India electric scooter market size was valued USD 1.3 Billion in 2024. By…
Rising Cyber Threats Push India Cyber Insurance Market to USD 6,907.8 Million by …
India Cyber Insurance Market 2025-2033
According to IMARC Group's report titled "India Cyber Insurance Market Size, Share, Trends and Forecast by Component, Insurance Type, Organization Size, End Use Industry, and Region, 2025-2033", The report offers a comprehensive analysis of the industry, including India cyber insurance market forecast, share, growth and regional insights.
Market Size & Future Growth Potential:
The cyber insurance market in india was valued USD 582.2 Million in 2024. By 2033,…
Human Resource (HR) Technology Market Size, Share, Trends and Forecast 2025-2033
Human Resource Technology Market Overview:
The human resource (HR) technology market is witnessing significant growth, driven by increasing digital transformation across organizations and the rising need for automation in workforce management. HR technology solutions, including talent acquisition platforms, payroll systems, performance management software, employee engagement tools, and learning & development platforms, are becoming integral to modern businesses. Cloud adoption, AI-powered analytics, and the shift toward remote and hybrid work models have…
More Releases for UPI
What is UPI Payment and How Does it Work?
In today's fast-paced digital world, convenience and speed are everything-especially when it comes to money. Whether you're paying your local grocery store or transferring funds to a friend instantly, UPI is revolutionizing the way we handle everyday transactions. But what exactly is UPI, and how does it work?
At ZingPay Technologies, we believe in empowering users with knowledge that helps them navigate the digital economy with confidence. Let's break it down.
What…
UPI Atm Machine Market Comprehensive Analysis for 2025
The UPI ATM Machine market is witnessing a transformative phase, characterized by rapid technological advancements and a shift in consumer preferences towards digital payment methods. Unified Payments Interface (UPI) technology has revolutionized the way financial transactions are conducted, making cash withdrawals, fund transfers, and bill payments seamless. This press release delves into the market's current landscape, highlighting key developments, growth drivers, competitive dynamics, and the opportunities that lie ahead.
You can…
GoKiwi.in Introduces Rupay Credit Card on UPI: A Revolutionary Payment Experienc …
[Karnataka, 20-10-2024] - GoKiwi.in, a leading player in digital payment solutions, is excited to announce the launch of its innovative Rupay Credit Card on UPI, revolutionizing the way users make payments. This latest offering merges the flexibility of credit card benefits with the ease and accessibility of UPI payments, offering a seamless, secure, and rewarding payment experience.
With the GoKiwi Rupay Credit Card, users can now enjoy the advantages of a…
Redefines Cash Withdrawals with Revolutionary UPI API Provider
Discover how PaySprint, a leading UPI API Provider, is transforming cash withdrawal experiences with its innovative UPI API solutions, offering unparalleled convenience and security.
In today's rapidly evolving digital landscape, the way we handle financial transactions is undergoing a significant transformation. Gone are the days of waiting in long queues at ATMs or worrying about carrying physical cards. Thanks to groundbreaking advancements in financial technology, cash withdrawals have become simpler, faster,…
India and Singapore driving digital innovation with UPI-PayNow-linkage
Until a decade ago paying without cash was a foreign idea. Digitisation changed this notion and made cashless transactions ubiquitous in every other country. In addition, smartphones, 4G, and booming 5G connectivity boosted this revolutionary change and led to the digital transformation of the fintech and banking industries. India geared up and embraced this change, surpassing the number of cash transactions with easy and secure digital payment methods.
India constantly…
Unified Payments Interface (UPI) Market is Booming Worldwide | Google Pay, Phone …
The latest released on Global Unified Payments Interface (UPI) Market delivers comprehensive data ecosystem with 360 view of customer activities, segment-based analytics-and-data to drive opportunities of evolving Unified Payments Interface (UPI) marketplace and future outlook to 2028. It includes integrated insights of surveys conducted with executives and experts from leading institutions across various countries. Some of the listed companies profiled in the report are Google Pay (United States), PhonePe…
