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Digital Payments in India Overview
Finance & Banking Analytics
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About
This dataset provides a detailed overview of transactions processed via Unified Payments Interface (UPI) applications in India, spanning from 2021 to July 2022. UPI is an instant, real-time payment system developed by the National Payments Corporation of India (NPCI), facilitating both peer-to-peer (P2P) and person-to-merchant (P2M) transactions. Regulated by the Reserve Bank of India (RBI), the system enables immediate fund transfers between bank accounts using a mobile platform. The NPCI acts as the central organisation for all digital payments in India.
The data reflects the significant growth of UPI, which by November 2021 had 274 banks integrated, processing 4.18 billion monthly transactions valued at ₹7.1 trillion (US$94 billion). By the same month, UPI had already handled 68 billion transactions in total. Since its inception in 2016, a total of ₹34.95 lakh crore (US$460 billion) has been transacted over 67 months. As of May 2021, the platform reported 150 million monthly active users in India, with an ambitious target of reaching 500 million by 2025. The proportion of UPI transactions within the total volume of digital transactions in India expanded from 23% in 2018-19 to 55% in 2020-21, with an average transaction value of ₹1,849. Future enhancements include integration of voice command features supporting English and various Indian vernacular languages, currently under development by IIT Madras.
Columns
- UPI Banks: Specifies the name of the UPI application used for transactions (e.g., Airtel Payments Bank Apps, Amazon Pay).
- Volume (Mn) By Customers: Represents the volume of transactions in millions, categorised by customer activity.
- Value (Cr) by Customers: Indicates the value of transactions in crores, categorised by customer activity.
- Volume (Mn): Shows the total volume of transactions in millions, based on earning.
- Value (Cr): Displays the total value of transactions in crores, based on earning.
- Month: The numerical representation of the month in which transactions occurred.
- Year: The year in which transactions occurred.
Distribution
The dataset is provided in a CSV format, named
UPI apps transaction data in 2021.csv. It comprises 7 columns and contains 654 records or rows. The file size is 31.44 kB. Specific numbers for rows or records are available for each column, indicating a uniform record count across the dataset.Usage
This dataset is ideal for:
- Analysing trends in UPI app transactions and digital payment adoption in India.
- Gaining insights into consumer behaviour patterns related to mobile payments.
- Evaluating the performance and market share of different UPI applications.
- Conducting research in financial technology (FinTech) and the broader digital transformation landscape in India.
- Informing economic studies and policy-making related to digital transactions.
Coverage
The dataset focuses on Unified Payments Interface transactions within India. It covers the time period from 2021 to July 2022, though the primary data file seems to specifically represent 2021 data as indicated by its name and the 'Year' column. The scope includes transaction volumes and values across various UPI applications, reflecting the activity of a significant portion of India's digital payment users. While specific demographic breakdowns are not included, the data pertains to the 150 million monthly active UPI users in India as of May 2021.
License
CC0: Public Domain
Who Can Use It
- Financial Analysts and Researchers: For studying market trends, financial inclusion, and the growth of digital payments.
- Market Strategists: To understand and predict the trajectory of digital payment adoption in India.
- Fintech Companies and Developers: For product development, market analysis, and competitive intelligence.
- Data Scientists: For conducting in-depth analyses, building predictive models, and identifying key patterns in transaction data.
- Economists and Policymakers: To assess the impact of digital payments on the Indian economy and guide regulatory frameworks.
Dataset Name Suggestions
- India UPI Transactions 2021-2022
- Indian Mobile Payment Data
- UPI Usage Trends India
- Digital Payments in India Overview
- National Payments Interface (NPCI) Transaction Statistics
Attributes
Original Data Source:Digital Payments in India Overview
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