This extraordinary milestone showcases how a solution designed specifically for India's unique needs has transformed the nation's payment landscape
Deepak Verma, MD and CEO, Findi
Dilip Modi, Founder & CEO, Spice Money
FinTech BizNews Service
Mumbai, April 2, 2025: India’s digital payments ecosystem achieved a record high in March, with UPI transactions reaching Rs24.77 lakh crore, as per data released by the National Payments Corporation of India (NPCI), on April 1. Mr Deepak Verma, MD and CEO, Findi and Mr. Dilip Modi, Founder & CEO, Spice Money, provide valuable views on this milestone:
Mr Deepak Verma, MD and CEO, Findi:
UPI's record-breaking Rs24.77 lakh crore transaction volume this March represents a crowning achievement for India's homegrown financial innovation. This extraordinary milestone showcases how a solution designed specifically for India's unique needs has transformed the nation's payment landscape.
The widespread adoption of UPI is building a foundation of trust in India's digital economy. As millions of Indians increasingly rely on UPI for transactions ranging from daily essentials to significant purchases, this trust is fostering comfort with digital financial services more broadly. This growing confidence is critical as it creates pathways for previously excluded populations to access formal financial systems.
To achieve true financial empowerment across India, we must continue building a comprehensive ecosystem that addresses diverse needs. The journey from Financial Inclusion to Financial Expansion requires that all citizens—particularly the underserved and underbanked—can access financial services through channels and payment methods that match their preferences and circumstances, especially for those for whom cash still remains the key medium of transaction. The ecosystem must balance innovation with inclusivity, allowing even those with limited digital literacy to participate in the growing Indian economy.
As UPI expands globally and integrates with credit, insurance, and investment platforms, its collaborative development model between regulators, financial institutions, and technology companies sets a powerful example of innovation that respects user choice while driving national progress. India isn't just participating in the digital payments revolution—it's defining it through solutions built by Indians, for Indians, that now inspire the world.
Mr. Dilip Modi, Founder & CEO, Spice Money:
The record-breaking UPI transactions of Rs24.8 lakh crore in March 2025, marking a 25% surge in value and an impressive 36% growth in volume compared to last year, demonstrate the unstoppable momentum of India’s digital payments revolution. With daily transactions averaging Rs79,903 crore, up 1.9% from February, and volumes rising 2.6%, these numbers underscore the rapid adoption and trust in digital financial solutions. This sustained growth signals deeper financial inclusion, enhanced consumer confidence, and a thriving digital economy. As UPI cements itself as the backbone of India’s payment ecosystem, businesses, fintech players, and policymakers must strategically leverage this expansion to drive innovation, enhance security, and scale financial services for the next wave of digital transformation.
At Spice Money, we take immense pride in contributing to this transformation by empowering rural and underserved communities with inclusive, secure, and user-friendly fintech tools. This exponential growth reflects the success of India’s financial inclusion policies and the collaborative efforts of the fintech ecosystem. As we celebrate this milestone, we remain steadfast in our mission to bridge the urban-rural financial divide, ensuring every Indian, from metros to villages, can actively participate in and benefit from the digital economy.
