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India
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Top e-commerce industries
23.7%
Electronics
20.8%
Hobby & Leisure
18.7%
Fashion
Furniture & Homeware
Care Products
DIY
Grocery
New Delhi
Capital
1.4B
Population
+5
Time Zone (GMT)
INR (₹)
Currency
Indian Rupee
$3.5Tr
Transactions
value in 2028
16.4%
CAGR
of Digital Payments
during 2024-2028
during 2024-2028
Popularity of e-commerce payment methods
Extend your reach
UPI (Unified Payments Interface) is a real-time payment system in India developed by the National Payments Corporation of India (NPCI) and regulated by the Reserve Bank of India (RBI). It enables direct bank-to-bank transfers instantly using a smartphone, without the need for intermediary wallets. Although UPI was not originally designed for wallet integration, several major wallets in India, such as Amazon Pay, PhonePe, Fampay, and OneCard, have incorporated UPI functionality, enhancing its usability and convenience.
Method
UPI
UPI
LPM Market Share
18%
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
Bank Transfer
Local Card Scheme
Users
330M
Disbursements
Yes
Yes
Chargebacks
$25.00
$25.00
