RuPay Statistics 2025: Shocking Growth Trends

RuPay has emerged as a key player in India’s digital payments landscape, backed by strong government support and deep integration with platforms like UPI. From enabling financial inclusion in rural communities to competing directly with global card networks in credit transactions, RuPay is reshaping how Indians pay and get paid. This article explores the data behind RuPay’s expansion, usage, and market share across cards, UPI, and government schemes.

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RuPay holds an 18% market share of India’s credit card ecosystem in 2025.
RuPay credit card UPI transactions account for 38% of India’s total credit card volume by transactions.
Over 36 crore RuPay debit cards have been issued under PMJDY as of August 2024.
750 million UPI RuPay credit card transactions took place between April and October 2024.
The value of RuPay UPI credit card payments rose from ₹33,439 crore in FY 2024 to ₹63,826 crore by October 2024.
Average RuPay UPI credit card ticket size remains around ₹1,125, favoring small-ticket, daily-use spending.
RuPay now processes more credit card transactions by volume than Visa or Mastercard in India.

Recent Developments

In 2022, RuPay became the first and only card network allowed to link credit cards with UPI.
By mid-2025, over 50 million merchants in India will accept UPI, giving RuPay an unparalleled distribution network.
RuPay credit cards are now being used on UPI platforms, including PhonePe, Google Pay, Paytm, and BHIM.
The shift from debit to credit card usage, particularly via UPI, has reshaped RuPay’s growth trajectory in 2024 and 2025.
The average transaction size for RuPay UPI credit card payments is significantly lower than traditional credit card spends, indicating broader usage for daily expenses.
RuPay is increasingly accepted by small retailers due to QR-based payment systems, reducing infrastructure costs.
Several banks now offer RuPay virtual credit cards, especially for online purchases and mobile-first consumers.
The introduction of financial incentives by NPCI has encouraged banks to issue more RuPay credit cards.
Government reports confirm that PoS and online transactions using RuPay cards are growing faster than those on Visa or Mastercard in volume.

What Is RuPay?

RuPay is India’s homegrown card payment network, developed by the National Payments Corporation of India (NPCI).
RuPay commands 18% of India’s credit card market share in October 2025.
India has 11 crore active credit cards, with RuPay at one-third issuance share.
RuPay processes ₹18,000 crore in monthly UPI transaction value.
Total monthly RuPay spending hits ₹35,000 crore, securing 18% market share.
Average RuPay transaction value is ₹3,400, below Visa/Mastercard’s ₹4,300.
RuPay transaction volume share nears 25% in credit cards.
Over 753 million RuPay cards were issued by 1,158 banks as of 2020.
More than half of RuPay credit transactions occur via UPI.

Total RuPay Cards Issued

Over 70 crore RuPay cards have been issued across categories as of August 2024.
628.41 million RuPay cards in circulation as of February 2024.
753 million RuPay cards were issued by 1,158 banks as of 2020.
38.68 crore RuPay debit cards issued to PMJDY account holders.
36 crore RuPay debit cards under PMJDY from public sector banks.
Over 10 million RuPay credit cards in use by December 2023.
20 million active RuPay credit card users with 20% YoY growth.
RuPay cards are accepted in 42+ countries via global tie-ups.
964.25 million RuPay cards in use by FY 2023-2024.

Debit Card Statistics

Over 90% of PMJDY account holders have been issued RuPay debit cards as of 2025.
In FY 2024-25, RuPay debit card PoS transactions grew by 11% YoY, despite the UPI surge.
ATM withdrawals using RuPay debit cards dropped by 7% in the same period, showing a behavioral shift toward digital.
On average, monthly transactions per active RuPay debit card stand at 2.8.
Tier-3 and rural regions account for 55% of RuPay debit usage, largely due to government benefit disbursals.
45% of new debit card issuances in India are now RuPay-based, due to government and bank preferences.
RuPay debit transactions on e-commerce platforms are expected to cross ₹25,000 crore in FY 2025.

Global Debit Card Market Growth Highlights

The global debit card market is projected to reach $103.66 billion by 2029.
In 2024, the market stood at $95.78 billion.
In 2025, it is expected to grow slightly to $96.84 billion.
The industry is forecast to grow at a CAGR of 1.7% from 2025 to 2029.
This gradual rise indicates steady demand and usage of debit card-based payments worldwide.

Credit Card Statistics

RuPay holds 18% of India’s credit card market as of October 2025.
Some reports place RuPay’s credit card share at 16%.
India has 111 million active credit cards in circulation.
RuPay credit cards account for 38% of transaction volume.
11.33 crore credit cards are active as of September 2025.
RuPay processes ₹18,000 crore monthly UPI transactions.
The average RuPay transaction value is ₹3,400.
RuPay credit on UPI hit 750 million transactions worth ₹63,825 crore by October FY25.
Total credit card volume reached 458.65 million in March 2025.

RuPay vs Visa and Mastercard

RuPay’s 18% share of the credit‑card market in 2025 signals a serious challenge to long‑dominant global networks.
RuPay is currently the only domestic network permitted to link credit cards to UPI.
By volume, RuPay now handles ~38% of all credit‑card transactions in India, while by value its share stands near 8%.
That 38% volume share marks a sharp rise from fiscal 2024.
This shift has “quietly wrestled volume from Visa, Mastercard, and American Express”.
Global networks now face structural pressure in India’s mainstream consumer segment.
RuPay is expected to continue narrowing the distance versus global networks as UPI‑linked credit adoption deepens.

How Consumers Fund Mobile Wallets

35% of users globally fund their digital wallets through bank accounts, making it the most common method.
Debit cards account for 27% of wallet top-ups, showing strong reliance on direct card payments.
Credit cards are used by 23% of consumers to load funds into mobile wallets.
Prepaid cards make up 6% of funding sources, appealing to unbanked or budget-conscious users.
Mobile contract or prepaid balances are used by 7%, especially in regions with telecom-driven wallets.
Only 2% of users rely on other methods, reflecting the dominance of traditional banking and card rails.
Altogether, 56% of global mobile wallet funding comes from card-based sources (debit, credit, prepaid).

RuPay Transactions: Volume and Value

RuPay credit‑card transactions on UPI accounts for 38% of all credit‑card transactions in India by volume.
UPI‑linked RuPay credit‑card use now represents around 8% of total credit‑card transaction value.
Between April and October 2024 alone, RuPay processed about 750 million UPI credit‑card transactions amounting to approximately ₹63,826 crore.
In FY 2024, RuPay recorded 362.9 million transactions worth ₹33,439.2 crore.
Average monthly UPI‑based RuPay spending is about ₹18,000 crore, up from ₹10,000 crore 18 months ago.
Many of these transactions are small‑ticket spends, typical for day‑to‑day consumer purchases.
RuPay is steadily capturing a share of everyday retail and online payments.
The trend enhances financial inclusion, making credit accessible for broader segments of India’s population.

Online vs Offline Transactions

More than half of RuPay credit card transactions occur via UPI.
70–80% of RuPay-UPI credit card transactions happen offline.
40% of all credit card transactions are now UPI-linked by volume.
38% RuPay share of total credit card transactions in FY25.
₹18,000 crore monthly RuPay UPI transaction value.
750 million RuPay credit UPI transactions worth ₹63,825 crore by Oct FY25.
₹35,000 crore total monthly RuPay spending, including PoS.
UPI-linked credit transactions rose from 10% to 40% volume share.

Usage by State or Region

Uttar Pradesh leads with the highest PMJDY RuPay cards issued.
West Bengal ranks second in RuPay debit card issuance under PMJDY.
Maharashtra shows 20% YoY RuPay credit growth in tier-2 cities.
Bihar records 35% rise in rural RuPay UPI usage.
Tamil Nadu has a 15% market share for RuPay PoS transactions.
Karnataka urban areas drive 25% of online RuPay volume.
Rajasthan tier-3 towns see 40% adoption growth via QR.
Andhra Pradesh reports the highest rural merchant RuPay acceptance at 55%.
Gujarat contributes 12% to the national RuPay credit spends.

Usage by Channel (ATM, PoS, Online, UPI)

UPI drives the majority of RuPay credit transactions at over 50% share.
₹18,000 crore monthly via UPI channel for RuPay credit.
₹35,000 crore total monthly across PoS, online, and UPI.
25% RuPay share in PoS transaction volume.
750 million UPI-RuPay credit transactions worth ₹63,825 crore in FY25.
Over 50 million merchants accept UPI-linked RuPay.
ATM withdrawals are minimal, at under 5% of RuPay usage.
Online/e-commerce RuPay volume up 30% YoY.

Credit on UPI Metrics

RuPay credit‑card transactions routed via UPI account for 38% of all credit‑card transactions in India by volume.
Value share for UPI-linked credit‑card payments is 8%, up from 1.8% in FY 2024.
In April–October 2024, RuPay processed ~750 million UPI credit‑card transactions, totalling ~₹63,826 crore.
In FY 2024, RuPay handled ~362.9 million transactions worth ₹33,439.2 crore.
The average UPI‑credit transaction remains modest (~₹1,125), aligning with daily expenses.
UPI acceptance vastly outnumbers traditional credit‑card PoS terminals.
Banks and fintechs actively promote RuPay credit cards due to UPI‑credit potential.

RuPay credit cards hold 38% of all credit card transaction volume on UPI.
8% value share for RuPay UPI credit, up from 1.8% year ago.
750 million RuPay credit UPI transactions worth ₹63,825 crore by Oct FY25.
40% of total credit card transactions are now UPI-linked.
RuPay commands 18% overall credit card market share.
More than half of RuPay credit transactions are via UPI.
₹18,000 crore monthly UPI credit value via RuPay.
UPI credit volume grew from 10% to 40% share.
25% RuPay transaction volume share in credit cards.

Under Government Schemes (PMJDY and Others)

36.14 crore RuPay debit cards were issued under PMJDY by August 2024.
Government inclusion schemes continue to support RuPay card adoption.
PMJDY account deposits reached ₹231,236 crore by August 2024.
Most cards under these schemes are issued to rural and semi-urban women.
PoS and e-commerce RuPay transactions under PMJDY rose from 67 crore to 96.78 crore.
UPI transactions among PMJDY users rose from 535 crore to 13,113 crore over five years.
RuPay is used to disburse subsidies and benefits digitally and securely.
Government policy has made RuPay the backbone of India’s financial inclusion strategy.

Adoption in Rural vs Urban India

PMJDY issued 38.68 crore RuPay debit cards mainly to rural users.
36 crore RuPay debit cards under PMJDY target rural/semi-urban accounts.
70% PMJDY accounts in rural/semi-urban areas use RuPay cards.
RuPay UPI credit adoption up 50% YoY in rural India.
Over 50 million rural merchants accept UPI-RuPay payments.
QR-based RuPay usage grew 40% among small-town merchants.
Rural RuPay credit transactions rose 30% via mobile apps.
60% first-time credit users from rural regions choose RuPay.

RuPay Revenue and Profitability Indicators

Total ₹35,000 crore monthly RuPay spends across all channels.
21.7% CAGR projected for RuPay transaction volume.
20.8% CAGR expected in RuPay transaction value.
₹63,825 crore from 750 million RuPay credit UPI transactions FY25.
25% volume share drives higher margins vs Visa/Mastercard.
18% market share yields ₹10,000 crore monthly credit revenue.
Domestic processing saves 30-40% on interchange fees.
₹3,400 average transaction supports recurring profitability.

Future Growth Projections for RuPay

20–22% CAGR projected for RuPay credit and UPI volumes.
21.7% CAGR in RuPay transaction volume through 2030.
20.8% CAGR expected in RuPay transaction value.
RuPay credit cards to reach 25% market share by 2027.
Tier-2/3 cities to contribute 40% of new RuPay growth.
PMJDY to issue 50 crore additional RuPay debit cards by 2028.
UPI-RuPay credit volume to hit ₹2 lakh crore monthly by 2027.
Digital natives drive 60% RuPay mobile-only adoption.
RuPay revenue projected to grow at 25% CAGR with scale.

Frequently Asked Questions (FAQs)

What proportion of all credit‑card transactions in India by volume are processed through RuPay (as of late 2025)?

38% of credit‑card transactions (by volume).

What share of credit‑card transaction value does RuPay hold (as of 2025)?

Around 8% by value.

What is the estimated number of small‑ticket UPI‑credit transactions (in volume) RuPay processed in FY2025?

Over 750 million transactions (UPI credit‑card).

What monthly transaction value through UPI via RuPay credit cards was reported recently?

Around ₹18,000 crore per month

Conclusion

RuPay’s trajectory shows a network that has grown far beyond its early role as a debit‑card provider tied to government welfare schemes. Thanks to integration with UPI and growing acceptance across merchant and digital‑commerce channels, RuPay is now a major force in credit‑card transactions, especially for everyday, small‑ticket payments. Its reach spans rural and urban India, supported by financial‑inclusion policies, digital infrastructure investments, and changing consumer behavior. Given current growth rates and market dynamics, RuPay appears well-positioned to expand further, deepen financial access, and redefine how millions of Indians pay and borrow.