Market Pulse—

India UPI P2P vs P2M Transactions (Volume & Value)

Monthly UPI transaction volume (million) and value (₹ crore) split between Person-to-Person (P2P) and Person-to-Merchant (P2M) payments from April 2020. Data from NPCI UPI Ecosystem Statistics.

  • Verified official series
  • Licensed export
  • Source: National Payments Corporation of India
LATEST VALUE (Aug 2026)8,95,320.68million
MAX VALUE21,17,966.16million in May 2026
GROWTH SINCE START162582.1%Apr 2020 to Aug 2026
YEARS OF DATA6 YearsApr 2020 to Aug 2026
TOTAL DATA POINTS308Monthly Observations

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Unlock India UPI P2P vs P2M Transactions (Volume & Value)

  • P2P Transaction Volume
  • P2M Transaction Volume
  • P2P Transaction Value
  • P2M Transaction Value
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Series ID

INDIA_UPI_P2P_VS_P2M_TRANSACTIONS

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About
About

Monthly UPI transaction volume (million) and value (₹ crore) split between Person-to-Person (P2P) and Person-to-Merchant (P2M) payments from April 2020. Data from NPCI UPI Ecosystem Statistics.

Formula
Formula
Value = As reported by the official source.

This dataset represents reported values over time. Growth patterns should be interpreted using the chart and filters, not CAGR.

Source
Source
National Payments Corporation of India
How to explore
How to explore
  • Use custom date filters to explore different periods.
  • Track short-term spikes or declines using MoM changes.
  • Compare early vs recent values to understand scale changes.

Topics

  • Upi
  • P2p
  • P2m
  • Digital Payments
  • Npci
  • India
  • Transactions
  • Fintech
  • Ecosystem
Source standard
Official
Validation
Verified
Export
Licensed
Access
₹299 · $4 / year