Unified Payments Interface (UPI) Ecosystem Statistics

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UPI Merchant Category Classification

UPI Merchant Category Classification - Sep 24

UPI Merchant Category-wise Classification - Sep'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit card cal
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5912	Drug stores and pharmacies
	5462	Bakeries
	4900	Utilities electric, gas, water and sanitary
	5993	Cigar shops and stands
Medium Transacting Categories	5451	Dairies
	5311	Department stores
	7322	Debt collection agencies
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges a
	5441	Candy, nut and confectionery shops
	5422	Freezer and locker meat provisioners
	5921	Package shops beer, wine and liquor
	5262	Online Marketplaces
	6211	Securities brokers and dealers
	7622	Electronics repair shops
All Other Categories	5732	Electronics shops
	9399	Government services not elsewhere classified
	7230	Beauty and barber shops
	5137	Mens, womens and childrens uniforms and commercial clothing
	4112	Passenger railways
	5331	Variety stores
	5691	Mens and womens clothing shops
	4121	Taxi-cabs and limousines
	7011	Lodging hotels, motels and resorts
	Others

Glossary

Category classification is made in terms of Approved UPI transaction Volume.
High Transacting Categories: Top 10 MCCs
Medium Transacting Categories: Next 10 MCCs
All Other Categories: Next 9 MCCs along with all other MCCs clubbed under 'Others'
MCC Description is with reference to ISO 18245:2003 standard

UPI Top 50 Member Performance (August'24)

UPI Remitter Members - Top 50 Members (Aug'24)
Sr. No.	UPI Remitter Members (Aug-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	4,052.31	94.40%	5.39%	0.21%	11.86	98.58%
2	HDFC Bank Ltd.	1,270.59	95.28%	4.66%	0.06%	3.61	99.34%
3	Bank of Baroda	985.86	92.45%	6.95%	0.60%	3.26	95.42%
4	Union Bank Of India	941.93	93.51%	5.83%	0.65%	3.91	68.43%
5	Punjab national Bank	835.00	91.99%	7.92%	0.09%	2.96	95.13%
6	Kotak Mahindra Bank	772.93	92.43%	7.48%	0.09%	2.03	93.51%
7	Axis bank Ltd.	730.47	95.47%	4.53%	0.00%	1.67	98.74%
8	Canara Bank	722.42	93.11%	6.11%	0.78%	3.27	85.39%
9	ICICI Bank Ltd.	648.75	96.15%	3.76%	0.09%	1.37	96.47%
10	Bank Of India	478.26	93.86%	5.61%	0.53%	2.07	74.34%
11	Indian Bank	462.16	94.02%	5.92%	0.06%	1.36	95.17%
12	Airtel Payments Bank Ltd	437.93	90.01%	9.84%	0.15%	1.81	97.33%
13	India Post Payments Bank Ltd	349.66	88.27%	10.99%	0.74%	1.73	91.01%
14	Federal bank Ltd.	221.37	94.22%	5.75%	0.03%	0.59	99.43%
15	Central Bank of India	218.28	88.36%	11.05%	0.59%	1.08	81.74%
16	Indian Overseas Bank	217.93	92.44%	5.92%	1.64%	1.05	90.49%
17	UCO Bank	200.84	92.29%	7.59%	0.12%	0.77	89.65%
18	IDBI Bank	166.58	94.17%	5.57%	0.26%	0.75	91.64%
19	Indusind Bank Ltd.	165.70	91.49%	8.34%	0.17%	0.67	98.15%
20	Bank of Maharashtra	163.62	93.33%	6.41%	0.25%	0.53	84.69%
21	Fino Payments Bank Limited	151.38	92.78%	6.83%	0.39%	0.88	73.49%
22	Yes Bank Ltd.	126.41	93.91%	5.87%	0.23%	0.33	72.31%
23	Karnataka Bank	117.67	92.78%	7.01%	0.21%	0.39	81.20%
24	IDFC First Bank Ltd	89.97	93.64%	6.13%	0.23%	0.38	61.58%
25	Karur Vysya Bank	74.18	92.49%	6.22%	1.30%	0.42	74.66%
26	AU small Finance Bank	69.40	91.26%	8.72%	0.02%	0.16	97.18%
27	The Jammu & Kashmir Bank Limited	69.35	92.93%	5.02%	2.06%	0.84	31.42%
28	Bandhan Bank limited	66.15	93.24%	5.73%	1.03%	0.29	90.93%
29	The South Indian Bank Limited	60.30	95.07%	4.88%	0.05%	0.15	97.96%
30	Tri O Tech Solutions Private Limited	57.12	100.00%	0.00%	0.00%	#N/A	#N/A
31	Ujjivan Small Finance Bank Limited	45.73	94.25%	5.32%	0.42%	0.17	90.37%
32	City Union Bank	44.59	92.78%	6.73%	0.49%	0.14	96.77%
33	Punjab and Sind Bank	42.38	92.12%	7.39%	0.49%	0.24	81.24%
34	Tamilnad Mercantile Bank Limited	41.50	91.74%	7.81%	0.46%	0.14	77.29%
35	Kerala Gramin Bank	34.73	90.77%	6.37%	2.87%	0.39	70.78%
36	Equitas Small Finance Bank Ltd	32.89	92.09%	7.25%	0.66%	0.12	93.25%
37	Karnataka Gramin Bank (Erstwhile Pragathi Krishna Gramin Bank)	30.19	84.79%	7.38%	7.83%	0.84	50.55%
38	Andhra Pradesh Grameena Vikas Bank - IMPS	28.61	86.25%	12.84%	0.91%	0.10	76.11%
39	DBS Bank India Limited	28.32	93.80%	6.18%	0.03%	0.08	99.45%
40	Standard Chartered Bank	26.22	97.09%	2.89%	0.03%	0.06	93.72%
41	ESAF Small Finance Bank Ltd.	25.47	95.08%	4.72%	0.21%	0.09	90.60%
42	Saraswat Co-operative Bank	25.08	95.11%	4.76%	0.13%	0.07	91.58%
43	Maharashtra Gramin Bank	24.99	86.37%	12.27%	1.35%	0.09	84.89%
44	Baroda U.P. Bank (Erstwhile Baroda Uttar Pradesh Gramin Bank)	24.96	88.53%	8.79%	2.68%	0.25	39.56%
45	Rajasthan Marudhara Gramin Bank	23.83	86.87%	10.55%	2.58%	0.20	56.54%
46	Sarva Haryana Gramin Bank	20.33	87.70%	6.60%	5.70%	0.33	52.55%
47	Jio Payments Bank limited	20.10	82.02%	15.04%	2.94%	0.23	89.82%
48	RBL Bank Ltd.	18.51	90.75%	8.85%	0.40%	0.07	67.86%
49	NSDL Payments Bank Limited	18.11	84.73%	11.81%	3.47%	0.27	17.10%
50	Andhra Pragathi Grameena Bank	17.78	85.45%	12.94%	1.61%	0.09	61.42%

UPI Top 50 Member Performance (August'24)

UPI Beneficiary Members - Top 50 Members (Aug'24)
Sr.No.	UPI Beneficiary Members (Aug-2024)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd.	6,021.00	99.99%	0.01%	0.00%	0.00%
2	State Bank Of India	1,562.83	99.73%	0.11%	0.15%	0.03%
3	Axis bank Ltd.	1,437.88	99.93%	0.07%	0.00%	0.01%
4	HDFC Bank Ltd.	729.74	99.09%	0.86%	0.05%	0.03%
5	ICICI Bank Ltd.	605.83	99.30%	0.64%	0.06%	0.02%
6	Bank of Baroda	430.60	99.55%	0.10%	0.35%	0.19%
7	Federal Bank Ltd.	411.62	99.75%	0.24%	0.01%	0.00%
8	Union Bank Of India	379.29	99.45%	0.11%	0.43%	0.09%
9	Canara Bank	364.14	98.59%	0.79%	0.62%	0.13%
10	Punjab national Bank	336.13	99.70%	0.29%	0.02%	0.07%
11	Kotak Mahindra Bank Ltd	292.43	99.62%	0.28%	0.10%	0.07%
12	Airtel Payments Bank Ltd	285.48	99.61%	0.30%	0.09%	0.03%
13	Indian Bank	235.76	99.00%	0.94%	0.07%	0.08%
14	Bank Of India	207.96	98.71%	0.84%	0.45%	0.17%
15	India Post Payments Bank Ltd	156.65	99.15%	0.30%	0.55%	0.04%
16	Indusind Bank Ltd.	146.14	99.30%	0.42%	0.28%	0.11%
17	Central Bank of India	109.19	96.05%	3.66%	0.28%	0.21%
18	Indian Overseas Bank	107.88	96.86%	1.84%	1.30%	0.55%
19	UCO Bank	90.38	99.31%	0.57%	0.12%	0.03%
20	Fino Payments Bank Ltd.	85.69	95.99%	3.57%	0.44%	0.06%
21	IDBI Bank Ltd.	70.75	99.54%	0.33%	0.13%	0.14%
22	Bank of Maharashtra	67.17	99.31%	0.34%	0.34%	0.07%
23	RBL Bank Ltd.	60.49	99.27%	0.42%	0.32%	0.19%
24	Karnataka Bank Ltd	52.41	99.26%	0.54%	0.19%	0.05%
25	Karur Vysya Bank	46.99	98.00%	1.23%	0.77%	0.27%
26	One Mobikwik Systems Pvt - Ltd	45.37	99.95%	0.03%	0.02%	0.00%
27	IDFC First Bank Ltd	39.12	98.68%	1.20%	0.12%	0.06%
28	South Indian Bank	38.46	99.08%	0.87%	0.04%	0.01%
29	Bandhan Bank Ltd.	38.00	98.56%	0.39%	1.04%	0.06%
30	Jammu and Kashmir Bank	37.39	99.23%	0.25%	0.53%	0.52%
31	AU small Finance Bank	36.23	98.80%	1.18%	0.02%	0.01%
32	Tamilnad Mercantile Bank	28.01	99.48%	0.09%	0.43%	0.08%
33	Tri O Tech Solutions Private Ltd.	27.57	96.28%	3.70%	0.02%	0.00%
34	City Union Bank	23.98	97.80%	1.70%	0.50%	0.01%
35	Ujjivan Small Finance Bank	22.97	98.91%	0.77%	0.32%	0.15%
36	Punjab and Sind Bank	20.54	98.57%	1.06%	0.37%	0.08%
37	KERALA GRAMIN BANK	18.28	97.28%	0.83%	1.89%	0.85%
38	CITI Bank	17.18	98.67%	1.22%	0.11%	0.04%
39	JIO PAYMENTS BANK LTD	14.70	98.20%	0.85%	0.94%	0.43%
40	Karnataka Gramin Bank (Erstwhile Pragathi Krishna Gramin Bank)	13.94	94.83%	0.91%	4.26%	2.26%
41	Equitas Small Finance Bank Ltd	13.80	97.69%	1.97%	0.34%	0.04%
42	Andhra Pradesh Grameena Vikas Bank	12.97	98.64%	0.41%	0.95%	0.07%
43	Baroda Uttar Pradesh Gramin Bank	12.43	97.54%	0.33%	2.13%	0.60%
44	ESAF Small Finance Bank Ltd.	11.85	98.74%	1.06%	0.20%	0.04%
45	Maharashtra Gramin Bank	11.41	98.29%	0.28%	1.43%	0.17%
46	DBS Bank India Ltd.	10.91	98.65%	1.33%	0.02%	0.01%
47	Rajasthan Marudhara Gramin Bank	10.52	97.75%	0.51%	1.74%	0.23%
48	Andhra Pragathi Grameena Bank	8.91	98.06%	0.23%	1.71%	0.13%
49	SARVA HARYANA GRAMIN BANK	8.71	95.16%	0.36%	4.48%	0.39%
50	Cosmos Bank	8.61	97.57%	0.34%	2.09%	1.20%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
The Debit Reversal Success percentage indicates the % of total cases, where a customer account may be debited and their bank is unable to confirm instantly about the status of reversal of such a debit. When reversal/credit is not processed instantly, it is processed manually by the bank as per the extant RBI guidelines.
Deemed Approved (Pending Credit Confirmation for UPI remittance transactions) - Deemed Approved percentage indicates the total percentage of cases of the total transactions, where credit confirmations are not received online from the beneficiary banks for the credit. If the beneficiary account is not credited online, transaction would be manually processed by the beneficiary bank as per the extant RBI guidelines.
Remitter - The account holder who is sending the money
Beneficiary - The account holder who is receiving money
Remitter Bank - The bank of the account holder who is sending the money
Beneficiary Bank - The bank of the account holder who is receiving money

UPI Apps (Aug'24)

UPI Apps (Aug'24)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	PhonePe #	7,236.49	10,33,264.34	-	-	-	-	7,236.49	10,33,264.34
2	Google Pay #	5,592.45	7,42,223.07	-	-	-	-	5,592.45	7,42,223.07
3	Paytm #	1,078.90	1,13,672.16	0.00	0.00	-	-	1,078.90	1,13,672.17
4	Cred #	147.48	50,720.89	-	-	-	-	147.48	50,720.89
5	Axis Bank Apps	18.05	4,189.44	95.91	1,642.70	0.01	2.21	113.97	5,834.35
6	Navi #	88.71	4,651.32	-	-	-	-	88.71	4,651.32
7	Amazon Pay #	70.72	7,744.21	-	-	-	-	70.72	7,744.21
8	FamApp by Trio	57.16	686.06	-	-	-	-	57.16	686.06
9	ICICI Bank Apps	48.59	18,120.13	0.01	6.62	2.72	3,182.57	51.31	21,309.33
10	Kotak Mahindra Bank Apps	46.94	6,349.00	-	-	-	-	46.94	6,349.00
11	WhatsApp #	45.43	3,421.99	-	-	-	-	45.43	3,421.99
12	HDFC Bank Apps	35.74	8,834.38	0.26	0.39	0.01	0.42	36.00	8,835.19
13	Yes Bank Apps	25.94	9,692.56	0.00	0.01	0.37	24.65	26.30	9,717.22
14	BHIM	25.94	8,363.28	-	-	-	-	25.94	8,363.28
15	Airtel Payments Bank Apps	17.56	1,221.85	0.00	0.01	-	-	17.56	1,221.86
16	Mobikwik #	14.94	3,012.52	-	-	-	-	14.94	3,012.52
17	Groww #	13.65	9,693.95	-	-	-	-	13.65	9,693.95
18	super.money #	11.63	385.77	-	-	-	-	11.63	385.77
19	Bajaj Finserv #	11.01	2,639.91	-	-	-	-	11.01	2,639.91
20	slice #	10.53	775.67	-	-	-	-	10.53	775.67
21	State Bank of India Apps	9.00	2,827.84			0.00	0.00	9.00	2,827.84
22	Flipkart UPI #	8.60	468.99	-	-	-	-	8.60	468.99
23	IDFC Bank Apps	8.01	1,768.92	-	-	0.00	0.00	8.01	1,768.92
24	Samsung Pay #	7.14	567.24	-	-	-	-	7.14	567.24
25	India Post Payments Bank Apps	7.04	906.00	-	-	-	-	7.04	906.00
26	Federal Bank Apps	6.25	901.05	-	-	-	-	6.25	901.05
27	Jupiter Money #	6.04	807.39	-	-	-	-	6.04	807.39
28	Deutsche Bank Apps	3.73	369.37	-	-	0.00	0.07	3.73	369.45
29	Canara Bank Apps	3.10	810.75	-	-	-	-	3.10	810.75
30	Jio Payments Bank Apps	2.62	201.60	-	-	-	-	2.62	201.60
31	Punjab National Bank Apps	2.57	595.26	-	-	-	-	2.57	595.26
32	Indian Bank Apps	2.26	373.47	-	-	0.00	0.28	2.26	373.75
33	RBL Bank Apps	1.53	548.79	0.00	0.00	0.02	5.51	1.55	554.30
34	Timepay #	1.29	12.89	-	-	0.00	0.02	1.29	12.90
35	Union Bank Apps	1.27	468.83	-	-	0.00	0.00	1.27	468.83
36	OmniCard #	1.21	61.66	-	-	-	-	1.21	61.66
37	Bank of Baroda Apps	1.13	449.45	-	-	-	-	1.13	449.45
38	Jammu and Kashmir Bank Apps	0.93	122.73	-	-	-	-	0.93	122.73
39	Central Bank of India Apps	0.85	173.27	-	-	-	-	0.85	173.27
40	Pop Club	0.77	72.62	-	-	-	-	0.77	72.62
41	South Indian Bank Apps	0.62	168.87	-	-	-	-	0.62	168.87
42	AU Small Finance Bank Apps	0.53	155.57	-	-	-	-	0.53	155.57
43	DBS Digibank Apps	0.52	198.88	-	-	0.00	0.58	0.52	199.46
44	Aditya Birla Capital Digital	0.51	16.36	-	-	-	-	0.51	16.36
45	HSBC Bank Apps	0.49	168.50	0.00	0.09	0.00	0.00	0.49	168.59
46	Fino Payments bank Apps	0.46	54.37	-	-	-	-	0.46	54.37
47	IndusInd Bank Apps	0.37	99.26	-	-	0.01	2.23	0.37	101.49
48	Digikhata #	0.33	110.14	-	-	-	-	0.33	110.14
49	Shri Ram One #	0.33	37.87	-	-	-	-	0.33	37.87
50	Kiwi #	0.29	37.80	-	-	-	-	0.29	37.80
51	UCO Bank Apps	0.24	53.95	-	-	-	-	0.24	53.95
52	Suryoday Bank Apps	0.21	0.02	-	-	0.00	0.00	0.21	0.02
53	Karnataka Bank Apps	0.19	39.14	-	-	0.00	0.00	0.19	39.14
54	TataNeu #	0.18	28.51	-	-	-	-	0.18	28.51
55	Standard Chartered Bank Apps	0.18	116.65	-	-	0.00	0.03	0.18	116.68
56	Indian Overseas Bank Apps	0.17	46.55	-	-	-	-	0.17	46.55
57	Dhani	0.12	15.89	-	-	-	-	0.12	15.89
58	Ultracash	0.12	8.68	-	-	-	-	0.12	8.68
59	Bank of India Apps	0.11	28.04	-	-	-	-	0.11	28.04
60	IDBI Bank Apps	0.09	33.76	-	-	-	-	0.09	33.76
61	City Union Bank Apps	0.08	29.36	-	-	-	-	0.08	29.36
62	Niyo Global	0.08	40.29	-	-	-	-	0.08	40.29
63	Tamilnad Mercantile Bank Apps	0.08	24.17	-	-	-	-	0.08	24.17
64	NSDL Payments Bank Apps	0.08	11.72	-	-	-	-	0.08	11.72
65	Karur Vysya Bank Apps	0.06	21.00	-	-	-	-	0.06	21.00
66	Rapi Pay	0.06	9.04	-	-	-	-	0.06	9.04
67	Equitas Small Finance Bank Apps	0.04	26.40	-	-	-	-	0.04	26.40
68	Punjab Sind Bank Apps	0.03	13.83	-	-	-	-	0.03	13.83
69	Allahabad Bank Apps	0.02	5.13	-	-	-	-	0.02	5.13
70	Others	1.66	226.14	-	-	0.15	4.44	1.82	230.58

Note:-

App volume in table is basis the Payer App logic, i.e the financial transaction is attributed to the PSP in UPI on the Payer’s side.
All B2C (Business to Customer) & B2B (Business to Business) transactions is attributed to respective PSP .
From January 2021 onwards, ‘On-us Transactions’ in UPI that are not processed and settled through the UPI Central System is shown under ‘On-us Transactions’ column.
Apps which has volume less than 20,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Maximum registered user base of hundred (100) million in UPI
3rd Party Apps (TPAP) Volume Market Share statistics excludes the cross-border transactions and new/recent features
On Us transactions of Airtel Payments Bank Apps have been incoroprated in B2B Payments
# Denotes 3rd Party Apps (TPAP)

UPI P2P and P2M Transactions

UPI P2P and P2M Transactions
Month	Total		P2P		P2M
Month	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
Aug'24	14,963.05	20,60,735.57	5,625.77	14,84,591.00	9,337.28	5,76,144.57

Glossary

P2P - P2P transactions are payments done by person to a person i.e. Peer to Peer Payments.
P2M - P2M transactions are payments done by person to a merchant i.e. Peer to Merchant Payments

UPI Payer PSP Performance

UPI Payer PSP Performance (August'24)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes bank Ltd.	4,993.30	91.88%	8.03%	0.09%
2	AXIS Bank Ltd.	4,967.63	94.27%	5.64%	0.09%
3	ICICI Bank Ltd.	2,879.50	93.59%	6.32%	0.09%
4	HDFC Bank Ltd.	1,538.03	95.10%	4.83%	0.07%
5	State Bank of India	1,371.70	95.65%	4.25%	0.11%
6	Tri O Tech Solutions Private Limited	57.12	100.00%	0.00%	0.00%
7	Kotak Mahindra Bank Ltd	47.21	100.00%	0.00%	0.00%
8	BHIM	30.42	93.34%	6.54%	0.12%
9	Airtel Payments Bank Ltd	18.37	95.59%	4.36%	0.05%
10	RBL Bank Ltd.	9.51	95.19%	4.72%	0.09%
11	IDFC First Bank	8.62	99.41%	0.58%	0.00%
12	India Post Payments Bank Ltd	7.05	99.96%	0.04%	0.00%
13	Federal Bank Ltd.	6.39	98.10%	1.89%	0.01%
14	One Mobikwik Systems Pvt - Ltd	5.32	100.00%	0.00%	0.00%
15	Garagepreneurs Internet Private Limited	4.73	100.00%	0.00%	0.00%

UPI Payee PSP Performance (August'24)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes bank Ltd.	8,408.55	92.86%	7.05%	0.09%
2	AXIS Bank Ltd.	2,755.65	94.66%	5.25%	0.09%
3	ICICI Bank Ltd.	1,582.25	93.85%	6.06%	0.09%
4	HDFC Bank Ltd.	934.55	94.36%	5.56%	0.08%
5	State Bank of India	805.11	94.97%	4.94%	0.09%
6	Federal Bank Ltd.	342.68	97.03%	2.89%	0.08%
7	Canara Bank	296.02	95.41%	4.51%	0.08%
8	Indusind Bank Ltd.	86.26	92.96%	6.95%	0.09%
9	Airtel Payments Bank Ltd	95.73	94.80%	5.12%	0.08%
10	RBL Bank Ltd.	89.10	93.00%	6.87%	0.13%
11	THE COSMOS CO-OPERATIVE BANK LTD	60.39	90.01%	9.83%	0.16%
12	One Mobikwik Systems Pvt - Ltd	42.88	96.54%	3.38%	0.08%
13	Bank of Baroda	46.96	94.89%	5.02%	0.09%
14	Kotak Mahindra Bank Ltd	33.71	95.61%	4.31%	0.08%
15	Fino Payments Bank Ltd.	40.26	90.38%	9.47%	0.15%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
PSP - Payment Service Provider
Payer PSP - Under this function a bank can onboard a customer, create his/ her UPI ID, create device binding which is used as a first factor of Authentication, using this customer can enter their UPI PIN to approve a financial transaction or non-financial request where ever necessary.
Payee PSP - Under this function a bank can onboard a customer/merchant & allow them to receive money basis allocated UPI ID or raise a Collect request. It is also known as beneficiary PSP/resolving PSP.

UPI Merchant Category Classification - Aug 24

UPI Merchant Category-wise Classification - Aug'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5912	Drug stores and pharmacies
	5462	Bakeries
	5311	Department stores
	4900	Utilities electric, gas, water and sanitary
Medium Transacting Categories	5451	Dairies
	7322	Debt collection agencies
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs
	5441	Candy, nut and confectionery shops
	5993	Cigar shops and stands
	5921	Package shops beer, wine and liquor
	6211	Securities brokers and dealers
	7622	Electronics repair shops
	5422	Freezer and locker meat provisioners
	5732	Electronics shops
All Other Categories	5137	Mens, womens and childrens uniforms and commercial clothing
	5262	Online Marketplaces
	7230	Beauty and barber shops
	9399	Government services not elsewhere classified
	4112	Passenger railways
	5331	Variety stores
	5691	Mens and womens clothing shops
	4121	Taxi-cabs and limousines
	7011	Lodging hotels, motels and resorts
	Others

Glossary

Category classification is made in terms of Approved UPI transaction Volume.
High Transacting Categories: Top 10 MCCs
Medium Transacting Categories: Next 10 MCCs
All Other Categories: Next 9 MCCs along with all other MCCs clubbed under 'Others'
MCC Description is with reference to ISO 18245:2003 standard

UPI Top 50 Member Performance (July'24)

UPI Remitter Members - Top 50 Members (Jul'24)
Sr. No.	UPI Remitter Members (Jul-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	3,912.83	94.55%	5.31%	0.14%	12.09	96.94%
2	HDFC Bank Ltd.	1,214.73	95.21%	4.78%	0.00%	3.67	98.69%
3	Bank of Baroda	954.81	92.35%	7.06%	0.59%	3.76	88.84%
4	Union Bank Of India	905.83	94.14%	5.76%	0.10%	3.33	74.06%
5	Punjab national Bank	837.23	89.63%	10.27%	0.10%	3.21	93.14%
6	Kotak Mahindra Bank	746.29	92.59%	7.22%	0.19%	2.58	78.21%
7	Axis bank Ltd.	697.05	95.55%	4.45%	0.00%	1.68	97.33%
8	Canara Bank	688.87	93.41%	6.23%	0.36%	3.78	70.71%
9	ICICI Bank Ltd.	629.64	96.15%	3.83%	0.02%	1.66	93.07%
10	Bank Of India	462.31	93.79%	5.40%	0.81%	2.36	66.06%
11	Indian Bank	449.31	94.10%	5.88%	0.02%	1.27	94.42%
12	Airtel Payments Bank Ltd	430.92	89.21%	10.65%	0.14%	1.61	93.76%
13	India Post Payments Bank Ltd	336.13	84.74%	12.89%	2.38%	2.23	53.95%
14	Federal bank Ltd.	214.60	94.25%	5.71%	0.04%	0.60	97.44%
15	Central Bank of India	211.52	88.33%	11.36%	0.32%	1.00	89.37%
16	Indian Overseas Bank	210.05	94.08%	5.68%	0.24%	0.78	91.89%
17	UCO Bank	194.92	92.01%	7.30%	0.68%	1.00	78.83%
18	IDBI Bank	161.72	93.74%	5.72%	0.54%	1.02	52.33%
19	Indusind Bank Ltd.	161.53	92.09%	7.83%	0.09%	0.81	87.52%
20	Bank of Maharashtra	155.62	92.94%	5.91%	1.15%	1.18	64.44%
21	Fino Payments Bank Limited	145.95	92.59%	7.23%	0.18%	0.68	78.50%
22	Yes Bank Ltd.	123.36	94.10%	5.85%	0.05%	0.31	82.90%
23	Karnataka Bank	113.52	92.56%	7.17%	0.27%	0.48	79.11%
24	IDFC First Bank Ltd	87.50	93.27%	6.62%	0.11%	0.36	70.12%
25	Karur Vysya Bank	71.96	93.18%	6.38%	0.44%	0.28	89.14%
26	The Jammu & Kashmir Bank Limited	68.27	89.99%	4.67%	5.34%	0.74	31.87%
27	Bandhan Bank limited	63.78	93.27%	5.64%	1.10%	0.26	96.54%
28	The South Indian Bank Limited	56.93	94.92%	5.06%	0.02%	0.23	81.02%
29	Tri O Tech Solutions Private Limited	52.10	99.80%	0.20%	0.00%	-	#N/A
30	AU Small Finance Bank	48.46	93.76%	6.23%	0.02%	0.18	93.22%
31	Ujjivan Small Finance Bank Limited	45.78	94.02%	5.70%	0.28%	0.28	59.89%
32	City Union Bank	43.40	92.80%	6.94%	0.26%	0.12	90.14%
33	Punjab and Sind Bank	40.75	91.88%	7.60%	0.52%	0.24	83.76%
34	Tamilnad Mercantile Bank Limited	40.33	91.64%	8.16%	0.20%	0.23	57.68%
35	Equitas Small Finance Bank Ltd	33.37	91.72%	7.51%	0.77%	0.15	81.82%
36	Kerala Gramin Bank	31.93	92.26%	5.89%	1.85%	0.31	83.44%
37	Karnataka Gramin Bank (Erstwhile Pragathi Krishna Gramin Bank)	28.68	89.64%	7.23%	3.13%	0.42	73.14%
38	Andhra Pradesh Grameena Vikas Bank - IMPS	27.69	85.15%	11.47%	3.38%	0.13	69.04%
39	DBS Bank India Limited	27.67	93.99%	5.98%	0.03%	0.08	95.30%
40	Rajasthan Marudhara Gramin Bank	25.58	79.63%	9.90%	10.47%	0.35	26.42%
41	Maharashtra Gramin Bank	25.52	78.50%	10.43%	11.07%	0.18	33.96%
42	Standard Chartered Bank	25.11	97.04%	2.95%	0.01%	0.07	93.06%
43	ESAF Small Finance Bank Ltd.	24.06	94.84%	4.94%	0.22%	0.08	93.14%
44	Saraswat Co-operative Bank	23.62	94.54%	5.13%	0.33%	0.12	63.03%
45	Baroda U.P. Bank (Erstwhile Baroda Uttar Pradesh Gramin Bank)	23.44	84.61%	9.14%	6.25%	0.58	18.67%
46	AU Small Finance Bank (Erstwhile Fincare)	20.27	85.18%	14.37%	0.45%	0.08	91.52%
47	Sarva Haryana Gramin Bank	20.25	90.64%	8.39%	0.96%	0.14	64.20%
48	Jio Payments Bank limited	18.37	84.71%	13.55%	1.75%	0.21	94.31%
49	Andhra Pragathi Grameena Bank	17.96	79.80%	12.21%	7.99%	0.08	60.11%
50	RBL Bank Ltd.	17.66	90.29%	8.87%	0.84%	0.10	60.52%

UPI Top 50 Banks Performance (July'24)

UPI Beneficiary Banks - Top 50 Banks (Jul'24)
Sr.No.	UPI Beneficiary Banks (Jul-2024)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd.	5,731.24	99.93%	0.01%	0.06%	0.01%
2	State Bank Of India	1,591.84	99.66%	0.11%	0.23%	0.04%
3	Axis bank Ltd.	1,364.34	99.91%	0.09%	0.00%	0.01%
4	HDFC Bank Ltd.	690.05	98.78%	0.98%	0.23%	0.03%
5	ICICI Bank Ltd.	604.23	99.40%	0.51%	0.09%	0.03%
6	Bank of Baroda	455.61	99.44%	0.09%	0.47%	0.47%
7	Federal Bank Ltd.	396.82	99.66%	0.25%	0.09%	0.00%
8	Union Bank Of India	368.24	99.59%	0.12%	0.29%	0.08%
9	Punjab national Bank	334.33	99.53%	0.30%	0.18%	0.23%
10	Canara Bank	326.46	98.95%	0.83%	0.21%	0.17%
11	Kotak Mahindra Bank Ltd	284.52	99.33%	0.31%	0.36%	0.18%
12	Airtel Payments Bank Ltd	267.22	99.25%	0.34%	0.41%	0.05%
13	Indian Bank	247.02	99.12%	0.74%	0.13%	0.16%
14	Bank Of India	212.52	98.47%	0.71%	0.82%	0.56%
15	India Post Payments Bank Ltd	145.20	98.01%	0.28%	1.71%	0.18%
16	Indusind Bank Ltd.	131.62	99.35%	0.43%	0.22%	0.04%
17	Indian Overseas Bank	102.09	98.59%	1.13%	0.28%	0.23%
18	Central Bank of India	100.29	97.86%	1.86%	0.28%	0.12%
19	UCO Bank	90.28	98.56%	0.73%	0.71%	0.19%
20	Fino Payments Bank Ltd.	76.94	96.50%	3.07%	0.43%	0.04%
21	IDBI Bank Ltd.	69.43	99.22%	0.35%	0.43%	0.16%
22	Bank of Maharashtra	64.74	98.40%	0.39%	1.21%	0.32%
23	RBL Bank Ltd.	51.19	98.83%	0.58%	0.59%	0.15%
24	Karnataka Bank Ltd	50.14	98.72%	0.86%	0.41%	0.08%
25	One Mobikwik Systems Pvt - Ltd	40.24	99.90%	0.03%	0.07%	0.00%
26	Karur Vysya Bank	39.80	98.72%	1.05%	0.24%	0.08%
27	IDFC First Bank Ltd	38.86	98.58%	1.28%	0.14%	0.05%
28	Bandhan Bank Ltd.	37.36	98.39%	0.36%	1.25%	0.03%
29	Jammu and Kashmir Bank	36.14	96.47%	0.28%	3.25%	0.50%
30	South Indian Bank	35.99	98.76%	0.96%	0.27%	0.06%
31	AU small Finance Bank	27.37	99.10%	0.82%	0.08%	0.03%
32	Tamilnad Mercantile Bank	27.15	99.27%	0.10%	0.63%	0.15%
33	Tri O Tech Solutions Private Ltd.	25.53	96.21%	3.75%	0.03%	0.00%
34	City Union Bank	22.90	98.08%	1.61%	0.31%	0.05%
35	Ujjivan Small Finance Bank	22.88	98.57%	0.70%	0.74%	0.29%
36	Punjab and Sind Bank	18.60	99.20%	0.25%	0.55%	0.09%
37	CITI Bank	17.74	97.85%	1.49%	0.66%	0.13%
38	KERALA GRAMIN BANK	17.02	97.75%	0.85%	1.39%	0.57%
39	Cosmos Bank	15.36	98.92%	0.16%	0.92%	0.09%
40	Equitas Small Finance Bank Ltd	14.09	97.83%	1.65%	0.52%	0.08%
41	Karnataka Gramin Bank (Erstwhile Pragathi Krishna Gramin Bank)	13.72	97.20%	0.91%	1.89%	1.07%
42	Andhra Pradesh Grameena Vikas Bank	13.16	95.15%	0.70%	4.14%	0.10%
43	Maharashtra Gramin Bank	12.26	85.13%	0.18%	14.68%	0.49%
44	Baroda Uttar Pradesh Gramin Bank	11.74	94.84%	0.30%	4.86%	1.72%
45	JIO PAYMENTS BANK LTD	11.60	98.37%	0.83%	0.80%	0.23%
46	Rajasthan Marudhara Gramin Bank	11.60	87.43%	0.42%	12.15%	0.69%
47	ESAF Small Finance Bank Ltd.	11.35	98.70%	1.06%	0.25%	0.15%
48	DBS Bank India Ltd.	10.79	98.42%	1.33%	0.24%	0.01%
49	Andhra Pragathi Grameena Bank	9.58	87.24%	0.39%	12.37%	0.08%
50	Fincare Small Finance Bank Ltd	9.16	95.02%	4.32%	0.65%	0.02%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
The Debit Reversal Success percentage indicates the % of total cases, where a customer account may be debited and their bank is unable to confirm instantly about the status of reversal of such a debit. When reversal/credit is not processed instantly, it is processed manually by the bank as per the extant RBI guidelines.
Deemed Approved (Pending Credit Confirmation for UPI remittance transactions) - Deemed Approved percentage indicates the total percentage of cases of the total transactions, where credit confirmations are not received online from the beneficiary banks for the credit. If the beneficiary account is not credited online, transaction would be manually processed by the beneficiary bank as per the extant RBI guidelines.
Remitter - The account holder who is sending the money
Beneficiary - The account holder who is receiving money
Remitter Bank - The bank of the account holder who is sending the money
Beneficiary Bank - The bank of the account holder who is receiving money

UPI Apps (Jul'24)

UPI Apps (Jul'24)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	PhonePe #	6983.97	1028799.39	0.00	0.00	0.00	0.00	6983.97	1028799.39
2	Google Pay #	5341.23	735159.20	0.00	0.00	0.00	0.00	5341.23	735159.20
3	Paytm (OCL ) #	1128.97	123467.32	0.00	0.00	0.00	0.00	1128.97	123467.33
4	Cred #	142.56	48998.89	0.00	0.00	0.00	0.00	142.56	48998.89
5	Axis Bank Apps	15.45	3943.51	93.11	2389.15	0.01	2.40	108.57	6335.06
6	Amazon Pay #	72.41	7995.92	0.00	0.00	0.00	0.00	72.41	7995.92
7	Navi #	68.47	3574.61	0.00	0.00	0.00	0.00	68.47	3574.61
8	ICICI Bank Apps	42.13	17883.79	3.46	405.17	7.32	10240.43	52.91	28529.39
9	Fampay by Trio #	52.04	639.44	0.00	0.00	0.00	0.00	52.04	639.44
10	Kotak Mahindra Bank Apps	44.80	6488.28	0.00	0.00	0.00	0.00	44.80	6488.28
11	WhatsApp #	41.39	3215.18	0.00	0.00	0.00	0.00	41.39	3215.18
12	HDFC Bank Apps	35.25	8747.15	0.02	0.07	0.00	0.28	35.28	8747.50
13	BHIM	24.64	8756.73	0.00	0.00	0.00	0.00	24.64	8756.73
14	Yes Bank Apps	23.81	9556.22	0.00	0.00	0.27	26.99	24.08	9583.20
15	Airtel Payments Bank Apps	16.63	1210.03	0.00	0.00	0.85	0.29	17.48	1210.32
16	Groww #	15.18	12129.34	0.00	0.00	0.00	0.00	15.18	12129.34
17	Bajaj Finserv #	9.90	2309.58	0.00	0.00	0.00	0.00	9.90	2309.58
18	Slice #	9.41	708.27	0.00	0.00	0.00	0.00	9.41	708.27
19	Mobikwik #	9.11	2431.73	0.00	0.00	0.00	0.00	9.11	2431.73
20	State Bank of India Apps	8.06	2691.74	0.00	0.00	0.00	0.00	8.06	2691.74
21	IDFC Bank Apps	7.63	1725.98	0.00	0.00	0.00	0.00	7.63	1725.98
22	Flipkart UPI #	7.12	422.36	0.00	0.00	0.00	0.00	7.12	422.36
23	Samsung Pay #	6.60	558.51	0.00	0.00	0.00	0.00	6.60	558.51
24	India Post Payments Bank Apps	6.43	826.31	0.00	0.00	0.00	0.00	6.43	826.31
25	Federal Bank Apps	5.95	848.66	0.00	0.00	0.00	0.00	5.95	848.66
26	Jupiter Money #	5.76	781.04	0.00	0.00	0.00	0.00	5.76	781.04
27	Canara Bank Apps	3.04	834.74	0.00	0.00	0.00	0.00	3.04	834.74
28	Federal Bank Apps	2.68	460.69	0.00	0.00	0.00	0.00	2.68	460.69
29	Jio Payments Bank Apps	2.53	199.65	0.00	0.00	0.00	0.00	2.53	199.65
30	super.money #	2.50	75.70	0.00	0.00	0.00	0.00	2.50	75.70
31	Deutsche Bank Apps	2.43	344.47	0.00	0.00	0.00	0.06	2.44	344.53
32	Timepay #	2.16	20.43	0.00	0.00	0.00	0.08	2.16	20.52
33	Punjab National Bank Apps	2.15	563.99	0.00	0.00	0.00	0.00	2.15	563.99
34	Indian Bank Apps	1.95	342.38	0.00	0.00	0.00	2.45	1.95	344.83
35	RBL Bank Apps	1.41	336.63	0.00	0.00	0.05	18.14	1.46	354.77
36	Union Bank Apps	1.28	530.92	0.00	0.00	0.00	0.00	1.28	530.92
37	Omnicard #	1.20	54.57	0.00	0.00	0.00	0.00	1.20	54.57
38	Bank of Baroda Apps	1.07	477.60	0.00	0.00	0.00	0.39	1.07	477.99
39	Jammu and Kashmir Bank Apps	0.87	111.92	0.00	0.00	0.00	0.00	0.87	111.92
40	Central Bank of India Apps	0.83	180.98	0.00	0.00	0.00	0.00	0.83	180.98
41	AU Small Finance Bank Apps	0.66	202.05	0.00	0.00	0.00	0.00	0.66	202.05
42	South Indian Bank Apps	0.56	159.32	0.00	0.00	0.00	0.00	0.56	159.32
43	DBS Digibank Apps	0.52	205.42	0.00	0.00	0.00	0.61	0.53	206.03
44	POPClub#	0.45	34.71	0.00	0.00	0.00	0.00	0.45	34.71
45	Fino Payments bank Apps	0.44	58.11	0.00	0.00	0.00	0.00	0.44	58.11
46	HSBC Bank Apps	0.44	152.09	0.00	0.05	0.00	0.00	0.44	152.15
47	IndusInd Bank Apps	0.37	99.64	0.00	0.00	0.01	1.48	0.38	101.12
48	Shri Ram One #	0.30	35.64	0.00	0.00	0.00	0.00	0.30	35.64
49	Digikhata #	0.26	83.11	0.00	0.00	0.00	0.00	0.26	83.11
50	UCO Bank Apps	0.24	69.95	0.00	0.00	0.00	0.00	0.24	69.95
51	Karnataka Bank Apps	0.19	39.14	0.00	0.00	0.00	0.00	0.19	39.14
52	Standard Chartered Bank Apps	0.17	116.68	0.00	0.00	0.00	0.04	0.17	116.72
53	TataNeu #	0.17	26.16	0.00	0.00	0.00	0.00	0.17	26.16
54	Indian Overseas Bank Apps	0.15	45.13	0.00	0.00	0.00	0.00	0.15	45.13
55	Kiwi	0.15	30.35	0.00	0.00	0.00	0.00	0.15	30.35
56	Suryoday Bank Apps	0.13	0.03	0.00	0.00	0.00	0.00	0.13	0.03
57	Dhani #	0.11	15.91	0.00	0.00	0.00	0.00	0.11	15.91
58	Ultracash #	0.10	7.35	0.00	0.00	0.00	0.00	0.10	7.35
59	Bank of India Apps	0.08	20.12	0.00	0.00	0.00	0.00	0.08	20.12
60	Tamilnad Mercantile Bank Apps	0.08	24.19	0.00	0.00	0.00	0.00	0.08	24.19
61	City Union Bank Apps	0.08	28.82	0.00	0.00	0.00	0.00	0.08	28.82
62	IDBI Bank Apps	0.08	32.92	0.00	0.00	0.00	0.00	0.08	32.92
63	Aditya Birla Capital Digital Limited	0.08	3.70	0.00	0.00	0.00	0.00	0.08	3.70
64	NSDL Payments Bank Apps	0.07	10.63	0.00	0.00	0.00	0.00	0.07	10.63
65	Citi Bank Apps	0.06	33.95	0.00	0.00	0.01	0.59	0.07	34.54
66	Bank of Maharashtra Apps	0.06	13.25	0.00	0.00	0.00	0.02	0.06	13.27
67	Niyo Global #	0.06	28.59	0.00	0.00	0.00	0.00	0.06	28.59
68	Karur Vysya Bank Apps	0.06	20.69	0.00	0.00	0.00	0.00	0.06	20.69
69	Rapi Pay #	0.04	5.95	0.00	0.00	0.00	0.00	0.04	5.95
70	Equitas Small Finance Bank Apps	0.04	28.20	0.00	0.00	0.00	0.00	0.04	28.20
71	Punjab Sind Bank Apps	0.03	14.96	0.00	0.00	0.00	0.00	0.03	14.96
72	Allahabad Bank Apps	0.02	5.19	0.00	0.00	0.00	0.00	0.02	5.19
73	Other Apps	1.34	191.87	0.00	0.08	0.15	3.99	1.48	195.85

Note:-

App volume in table is basis the Payer App logic, i.e the financial transaction is attributed to the PSP in UPI on the Payer’s side.
All B2C (Business to Customer) & B2B (Business to Business) transactions is attributed to respective PSP .
From January 2021 onwards, ‘On-us Transactions’ in UPI that are not processed and settled through the UPI Central System is shown under ‘On-us Transactions’ column.
Apps which has volume less than 20,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Maximum registered user base of hundred (100) million in UPI
3rd Party Apps (TPAP) Volume Market Share statistics excludes the cross-border transactions and new/recent features
On Us transactions of Airtel Payments Bank Apps have been incoroprated in B2B Payments
# Denotes 3rd Party Apps (TPAP)

UPI P2P and P2M Transactions

UPI P2P and P2M Transactions
Month	Total		P2P		P2M
Month	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
Jul'24	14,435.55	20,64,292.40	5,435.96	14,71,369.99	8,999.59	5,92,922.41

Glossary

P2P - P2P transactions are payments done by person to a person i.e. Peer to Peer Payments.
P2M - P2M transactions are payments done by person to a merchant i.e. Peer to Merchant Payments

UPI Payer PSP Performance

UPI Payer PSP Performance (July'24)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes bank Ltd.	5,164.19	92.02%	7.86%	0.12%
2	AXIS Bank Ltd.	4,393.74	93.86%	6.01%	0.13%
3	ICICI Bank Ltd.	2,762.62	93.29%	6.58%	0.13%
4	State Bank of India	1,521.58	95.47%	4.40%	0.13%
5	HDFC Bank Ltd.	1,394.09	94.81%	5.08%	0.11%
6	Tri O Tech Solutions Private Limited	52.00	100.00%	0.00%	0.00%
7	Kotak Mahindra Bank Ltd	45.05	100.00%	0.00%	0.00%
8	BHIM	29.02	93.13%	6.72%	0.16%
9	Airtel Payments Bank Ltd	17.37	95.73%	4.20%	0.07%
10	RBL Bank Ltd.	8.95	94.86%	5.00%	0.14%
11	IDFC First Bank	8.16	99.41%	0.59%	0.00%
12	India Post Payments Bank Ltd	6.43	99.98%	0.02%	0.00%
13	Federal Bank Ltd.	6.10	98.00%	1.98%	0.02%
14	One Mobikwik Systems Pvt - Ltd	4.40	100.00%	0.00%	0.00%
15	Garagepreneurs Internet Private Limited	4.37	100.00%	0.00%	0.00%

UPI Payee PSP Performance (July'24)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes bank Ltd.	8,202.97	92.89%	6.99%	0.12%
2	AXIS Bank Ltd.	2,586.30	94.23%	5.65%	0.13%
3	ICICI Bank Ltd.	1,521.57	93.37%	6.51%	0.12%
4	State Bank of India	848.08	94.39%	5.49%	0.11%
5	HDFC Bank Ltd.	838.86	94.10%	5.79%	0.11%
6	Federal Bank Ltd.	328.61	96.84%	3.04%	0.11%
7	THE COSMOS CO-OPERATIVE BANK LTD	297.65	89.26%	10.56%	0.18%
8	Indusind Bank Ltd.	130.34	93.85%	6.02%	0.13%
9	Airtel Payments Bank Ltd	81.05	94.48%	5.41%	0.12%
10	Canara Bank	68.42	95.86%	4.03%	0.11%
11	RBL Bank Ltd.	57.74	93.29%	6.55%	0.16%
12	One Mobikwik Systems Pvt - Ltd	50.12	96.38%	3.51%	0.12%
13	Kotak Mahindra Bank Ltd	41.71	95.27%	4.63%	0.10%
14	Bank Of India IBM	38.70	94.51%	5.29%	0.20%
15	Indian Bank	22.13	92.79%	7.06%	0.15%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
PSP - Payment Service Provider
Payer PSP - Under this function a bank can onboard a customer, create his/ her UPI ID, create device binding which is used as a first factor of Authentication, using this customer can enter their UPI PIN to approve a financial transaction or non-financial request where ever necessary.
Payee PSP - Under this function a bank can onboard a customer/merchant & allow them to receive money basis allocated UPI ID or raise a Collect request. It is also known as beneficiary PSP/resolving PSP.

UPI Merchant Category Classification - Jul 24

UPI Merchant Category-wise Classification - Jul'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit card cal
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5912	Drug stores and pharmacies
	5462	Bakeries
	5311	Department stores
	4900	Utilities electric, gas, water and sanitary
Medium Transacting Categories	5451	Dairies
	7322	Debt collection agencies
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges a
	5441	Candy, nut and confectionery shops
	6211	Securities brokers and dealers
	5422	Freezer and locker meat provisioners
	5921	Package shops beer, wine and liquor
	5993	Cigar shops and stands
	5262	Online Marketplaces
	7622	Electronics repair shops
All Other Categories	9399	Government services not elsewhere classified
	5732	Electronics shops
	7230	Beauty and barber shops
	5137	Mens, womens and childrens uniforms and commercial clothing
	4112	Passenger railways
	5331	Variety stores
	4121	Taxi-cabs and limousines
	5691	Mens and womens clothing shops
	4812	Telecommunication equipment and telephone sales
	Others

Glossary

Category classification is made in terms of Approved UPI transaction Volume.
High Transacting Categories: Top 10 MCCs
Medium Transacting Categories: Next 10 MCCs
All Other Categories: Next 9 MCCs along with all other MCCs clubbed under 'Others'
MCC Description is with reference to ISO 18245:2003 standard

UPI Top 50 Member Performance (June'24)

UPI Remitter Members - Top 50 Members (Jun'24)
Sr. No.	UPI Remitter Members (Jun-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank of India	3738.00	94.82%	4.95%	0.22%	10.49	97.79%
2	HDFC Bank Ltd	1191.85	95.43%	4.34%	0.23%	6.03	36.91%
3	Bank of Baroda	912.47	93.28%	6.39%	0.33%	4.43	99.54%
4	Union Bank of India	869.16	93.98%	5.74%	0.28%	3.33	70.38%
5	Punjab National Bank	783.70	93.53%	6.07%	0.40%	3.12	76.21%
6	Kotak Mahindra Bank Ltd	727.46	92.20%	6.93%	0.86%	2.68	95.04%
7	Canara Bank	657.78	92.85%	6.43%	0.72%	2.57	97.38%
8	Axis Bank Ltd.	651.80	95.59%	4.40%	0.02%	1.92	79.47%
9	ICICI Bank Ltd	620.66	96.19%	3.76%	0.05%	1.67	80.79%
10	Bank Of India	444.39	94.18%	5.51%	0.32%	1.60	60.95%
11	Indian Bank	423.92	94.06%	5.76%	0.19%	1.56	99.57%
12	Airtel Payments Bank Ltd	414.12	88.87%	10.12%	1.01%	1.51	95.88%
13	India Post Payments Bank Ltd	319.04	85.95%	12.05%	2.00%	1.44	71.65%
14	Federal Bank	205.99	94.34%	5.61%	0.06%	1.25	93.66%
15	Central Bank of India	202.35	86.99%	11.27%	1.74%	1.00	13.58%
16	Indian Overseas Bank	197.11	92.98%	5.54%	1.48%	0.86	98.72%
17	UCO Bank	184.42	93.38%	6.35%	0.27%	0.84	65.10%
18	IDBI Bank	155.97	94.24%	5.25%	0.51%	0.78	78.29%
19	Indusind Bank Ltd.	155.09	91.86%	7.68%	0.46%	0.73	77.15%
20	Bank of Maharashtra	150.89	93.21%	5.77%	1.01%	0.71	64.69%
21	Fino Payments Bank Ltd.	140.81	92.49%	7.16%	0.36%	0.67	67.82%
22	Yes bank Ltd.	118.94	94.04%	5.79%	0.17%	0.56	98.82%
23	Karnataka Bank Ltd	108.50	93.12%	6.42%	0.46%	0.50	35.88%
24	IDFC Bank Ltd.	85.74	93.06%	6.88%	0.06%	0.44	68.83%
25	Karur Vysya Bank	67.93	93.39%	6.14%	0.47%	0.40	77.80%
26	The Jammu And Kashmir Bank Ltd	65.45	93.49%	4.86%	1.66%	0.38	54.07%
27	Bandhan Bank Ltd.	59.26	92.99%	6.11%	0.90%	0.31	4.32%
28	South Indian Bank	54.24	94.99%	4.95%	0.06%	0.31	77.20%
29	Tri O Tech Solutions Private Limited	50.77	100.00%	0.00%	0.00%	0.31	17.47%
30	AU Small Finance Bank	46.74	93.96%	6.01%	0.02%	0.26	90.09%
31	Ujjivan Small Finance Bank Limited	44.18	94.17%	5.60%	0.23%	0.25	20.25%
32	City Union Bank Limited	40.87	93.05%	6.69%	0.26%	0.24	82.70%
33	Punjab & Sind Bank	38.32	92.27%	7.46%	0.27%	0.22	89.99%
34	Tamilnad Mercantile Bank Ltd.	38.20	91.39%	7.44%	1.17%	0.21	97.95%
35	Equitas Small Finance Bank Ltd	32.46	92.00%	7.29%	0.71%	0.21	76.89%
36	HDFC Bank Credit Card HCB	31.15	95.19%	4.66%	0.15%	0.21	23.54%
37	Andhra Pradesh Grameena Vikas Bank	29.53	85.51%	12.21%	2.28%	0.20	99.07%
38	Kerala Gramin Bank	29.43	93.72%	5.54%	0.74%	0.17	90.78%
39	Pragathi Krishna Gramin Bank	26.98	91.24%	6.93%	1.83%	0.17	72.82%
40	DBS Bank India Limited	26.61	94.23%	5.72%	0.05%	0.17	58.21%
41	Rajasthan Marudhara Gramin Bank	25.44	86.22%	11.56%	2.22%	0.17	58.42%
42	Maharashtra Gramin Bank	25.16	86.97%	11.42%	1.61%	0.17	44.72%
43	Standard Chartered Bank	24.97	96.93%	2.90%	0.17%	0.16	90.27%
44	Baroda Uttar Pradesh Gramin Bank	24.09	74.58%	10.00%	15.42%	0.15	88.69%
45	Saraswat Co-operative Bank Ltd.	23.45	94.86%	4.71%	0.43%	0.15	96.25%
46	ESAF Small Finance Bank Ltd.	22.93	95.04%	4.76%	0.20%	0.14	67.14%
47	Fincare Small Finance Bank Limited	20.56	85.12%	14.38%	0.51%	0.13	9.53%
48	Sarva Haryana Gramin Bank	19.34	89.85%	7.83%	2.32%	0.13	96.24%
49	Andhra Pragathi Grameena Bank	18.35	80.76%	12.96%	6.28%	0.13	99.61%
50	Jio Payments Bank limited	16.80	84.80%	11.61%	3.59%	0.11	47.65%

UPI Top 50 Member Performance (June'24)

UPI Beneficiary Members - Top 50 Members (Jun'24)
Sr.No.	UPI Beneficiary Members (Jun-2024)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd.	5523.03	99.98%	0.02%	0.00%	0.00%
2	State Bank Of India	1549.25	99.76%	0.10%	0.14%	0.05%
3	Axis Bank Ltd.	1025.59	99.88%	0.12%	0.00%	0.02%
4	HDFC Bank Ltd.	653.68	98.79%	1.06%	0.15%	0.05%
5	ICICI Bank Ltd.	624.60	99.50%	0.48%	0.02%	0.02%
6	Bank of Baroda	400.13	99.78%	0.08%	0.14%	0.17%
7	Federal Bank	383.40	99.75%	0.23%	0.03%	0.00%
8	Union Bank of India	351.85	99.72%	0.11%	0.17%	0.10%
9	Punjab National Bank	324.58	99.40%	0.27%	0.34%	0.11%
10	Canara Bank	301.47	98.70%	0.94%	0.36%	0.15%
11	Kotak Mahindra Bank Ltd	275.04	99.39%	0.30%	0.31%	0.29%
12	Airtel Payments Bank Ltd	251.18	98.94%	0.34%	0.72%	0.15%
13	Indian Bank	224.43	99.08%	0.73%	0.19%	0.24%
14	Bank of India	202.39	99.03%	0.74%	0.23%	0.19%
15	India Post Payments Bank Ltd	137.69	98.92%	0.28%	0.80%	0.17%
16	IndusInd Bank Ltd.	124.07	99.11%	0.53%	0.37%	0.26%
17	Central Bank Of India	93.75	97.52%	1.46%	1.02%	0.37%
18	Indian Overseas Bank	93.03	98.65%	0.52%	0.82%	0.38%
19	UCO Bank	87.05	99.14%	0.66%	0.20%	0.10%
20	Fino Payments Bank Ltd.	73.74	96.29%	3.29%	0.43%	0.07%
21	IDBI Bank Ltd.	66.26	99.24%	0.36%	0.40%	0.17%
22	Bank of Maharashtra	60.84	98.97%	0.32%	0.71%	0.16%
23	Karnataka Bank Ltd	47.71	98.50%	1.13%	0.37%	0.11%
24	Karur Vysya Bank	36.29	98.24%	1.11%	0.65%	0.07%
25	RBL Bank Ltd.	36.15	98.79%	0.90%	0.31%	0.17%
26	IDFC First Bank Ltd	35.42	98.75%	1.21%	0.04%	0.02%
27	Bandhan Bank Ltd.	35.19	98.64%	0.37%	0.99%	0.01%
28	One Mobikwik Systems Pvt - Ltd	35.03	99.93%	0.02%	0.04%	0.00%
29	South Indian Bank	34.18	98.89%	1.08%	0.03%	0.01%
30	Jammu and Kashmir Bank	33.89	99.05%	0.37%	0.58%	0.28%
31	AU small Finance Bank	26.37	99.00%	0.99%	0.01%	0.01%
32	Tamilnad Mercantile Bank	25.76	98.76%	0.09%	1.15%	0.18%
33	Tri O Tech Solutions Private Ltd.	25.21	96.49%	3.43%	0.09%	0.04%
34	Ujjivan Small Finance Bank	22.07	99.11%	0.74%	0.15%	0.14%
35	City Union Bank	21.49	97.81%	2.04%	0.15%	0.00%
36	Punjab and Sind Bank	16.82	98.79%	0.99%	0.22%	0.03%
37	Kerala Gramin Bank	15.64	98.75%	0.89%	0.36%	0.24%
38	Cosmos Bank	15.14	95.46%	0.07%	4.47%	0.60%
39	Equitas Small Finance Bank Ltd	13.81	97.75%	1.34%	0.91%	0.17%
40	Andhra Pradesh Grameena Vikas Bank	13.60	97.85%	0.52%	1.63%	0.85%
41	Jio Payments Bank	13.28	98.52%	0.39%	1.09%	1.06%
42	Pragathi Krishna Gramin Bank	12.98	98.17%	0.99%	0.83%	0.58%
43	CITI bank	11.72	99.93%	0.00%	0.07%	0.09%
44	Baroda Uttar Pradesh Gramin Bank	11.70	87.69%	0.64%	11.68%	3.82%
45	Maharashtra Gramin Bank	11.60	98.84%	0.18%	0.98%	0.11%
46	Rajasthan Marudhara Gramin Bank	11.14	98.79%	0.46%	0.76%	0.23%
47	ESAF Small Finance Bank Ltd.	10.88	98.50%	1.42%	0.08%	0.03%
48	DBS Bank India Ltd.	10.36	98.41%	1.44%	0.15%	0.02%
49	Fincare Small Finance Bank Ltd	9.22	95.48%	4.17%	0.35%	0.08%
50	Andhra Pragathi Grameena Bank	9.05	95.03%	1.16%	3.81%	0.12%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
The Debit Reversal Success percentage indicates the % of total cases, where a customer account may be debited and their bank is unable to confirm instantly about the status of reversal of such a debit. When reversal/credit is not processed instantly, it is processed manually by the bank as per the extant RBI guidelines.
Deemed Approved (Pending Credit Confirmation for UPI remittance transactions) - Deemed Approved percentage indicates the total percentage of cases of the total transactions, where credit confirmations are not received online from the beneficiary banks for the credit. If the beneficiary account is not credited online, transaction would be manually processed by the beneficiary bank as per the extant RBI guidelines.
Remitter - The account holder who is sending the money
Beneficiary - The account holder who is receiving money
Remitter Bank - The bank of the account holder who is sending the money
Beneficiary Bank - The bank of the account holder who is receiving money

UPI Apps (Jun'24)

UPI Apps (Jun'24)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	PhonePe #	6,716.09	10,09,064.99	0.00	0.00	0.00	0.00	6,716.09	10,09,064.99
2	Google Pay #	5,103.99	7,07,241.27	0.00	0.00	0.00	0.00	5,103.99	7,07,241.27
3	Paytm	1,104.89	1,20,840.45	0.00	0.00	0.00	0.00	1,104.89	1,20,840.45
4	Cred #	138.42	45,720.01	0.00	0.00	0.00	0.00	138.42	45,720.01
5	Axis Bank Apps	14.14	3,852.77	60.92	2,755.96	0.01	5.30	75.07	6,614.04
6	Amazon Pay #	67.07	7,377.30	0.00	0.00	0.00	0.00	67.07	7,377.30
7	ICICI Bank Apps	38.25	16,692.52	4.20	462.22	9.20	12,841.44	51.65	29,996.18
8	FamApp by Trio #	50.78	641.36	0.00	0.00	0.00	0.00	50.78	641.36
9	Kotak Mahindra Bank Apps	42.65	6,073.08	0.00	0.00	0.00	0.00	42.65	6,073.08
10	WhatsApp #	37.18	2,923.79	0.00	0.00	0.00	0.00	37.18	2,923.79
11	Navi #	35.72	1,769.66	0.00	0.00	0.00	0.00	35.72	1,769.66
12	HDFC Bank Apps	34.57	8,166.94	0.03	0.08	0.00	0.27	34.60	8,167.30
13	BHIM	22.72	7,965.69	0.00	0.00	0.00	0.00	22.72	7,965.69
14	Yes Bank Apps	22.28	9,285.69	0.00	0.00	0.27	31.36	22.55	9,317.05
15	Airtel Payments Bank Apps	15.76	1,191.68	0.00	0.00	0.00	0.39	15.76	1,192.07
16	Mobikwik #	11.59	2,564.79	0.00	0.00	0.00	0.00	11.59	2,564.79
17	Groww #	11.26	9,094.72	0.00	0.00	0.00	0.00	11.26	9,094.72
18	Bajaj Finserv #	8.23	1,852.43	0.00	0.00	0.00	0.00	8.23	1,852.43
19	Slice #	7.86	634.47	0.00	0.00	0.00	0.00	7.86	634.47
20	IDFC Bank Apps	7.33	1,654.91	0.00	0.00	0.00	0.00	7.33	1,654.91
21	State Bank of India Apps	7.22	2,426.08	0.00	0.00	0.00	0.00	7.22	2,426.08
22	Samsung Pay #	6.38	542.12	0.00	0.00	0.00	0.00	6.38	542.12
23	India Post Payments Bank Apps	6.01	732.10	0.00	0.00	0.00	0.00	6.01	732.10
24	Flipkart UPI #	5.97	337.24	0.00	0.00	0.00	0.00	5.97	337.24
25	Federal Bank Apps	5.67	790.57	0.00	0.00	0.00	0.00	5.67	790.57
26	Jupiter Money #	5.63	750.68	0.00	0.00	0.00	0.00	5.63	750.68
27	Canara Bank Apps	2.88	793.85	0.00	0.00	0.00	0.00	2.88	793.85
28	Jio Payments Bank Apps	2.33	186.62	0.00	0.00	0.00	0.00	2.33	186.62
29	Deutsche Bank Apps	2.25	334.10	0.00	0.00	0.00	0.03	2.25	334.12
30	Timepay #	1.82	20.11	0.00	0.00	0.00	0.09	1.82	20.20
31	Punjab National Bank Apps	1.80	472.48	0.00	0.00	0.00	0.00	1.80	472.48
32	RBL Bank Apps	1.66	733.04	0.00	0.01	0.09	52.02	1.75	785.07
33	Indian Bank Apps	1.73	330.29	0.00	0.00	0.00	0.18	1.73	330.47
34	OmniCard #	1.28	53.41	0.00	0.00	0.00	0.00	1.28	53.41
35	Union Bank Apps	1.06	461.02	0.00	0.00	0.00	0.00	1.06	461.02
36	Bank of Baroda Apps	1.03	450.62	0.00	0.00	0.00	0.00	1.03	450.62
37	Central Bank of India Apps	0.83	188.63	0.00	0.00	0.00	0.00	0.83	188.63
38	AU Small Finance Bank Apps	0.76	227.63	0.00	0.00	0.00	0.00	0.76	227.63
39	Jammu and Kashmir Bank Apps	0.75	97.58	0.00	0.00	0.00	0.00	0.75	97.58
40	DBS Digibank Apps	0.49	198.19	0.00	0.00	0.00	0.49	0.50	198.68
41	South Indian Bank Apps	0.49	144.78	0.00	0.00	0.00	0.00	0.49	144.78
42	IndusInd Bank Apps	0.42	115.96	0.00	0.00	0.01	1.90	0.43	117.86
43	Fino Payments bank Apps	0.41	55.79	0.00	0.00	0.00	0.00	0.41	55.79
44	HSBC Bank Apps	0.40	148.04	0.00	0.05	0.00	0.00	0.40	148.09
45	Shriram One #	0.28	37.04	0.00	0.00	0.00	0.00	0.28	37.04
46	UCO Bank Apps	0.22	67.40	0.00	0.00	0.00	0.00	0.22	67.40
47	Digikhata #	0.19	63.31	0.00	0.00	0.00	0.00	0.19	63.31
48	Karnataka Bank Apps	0.18	33.54	0.00	0.00	0.00	0.00	0.18	33.55
49	Standard Chartered Bank Apps	0.17	117.31	0.00	0.00	0.00	0.05	0.17	117.35
50	TataNeu #	0.16	23.31	0.00	0.00	0.00	0.00	0.16	23.31
51	Kiwi #	0.15	31.43	0.00	0.00	0.00	0.00	0.15	31.43
52	Suryoday	0.14	0.02	0.00	0.00	0.00	0.00	0.14	0.02
53	Indian Overseas Bank Apps	0.13	37.62	0.00	0.00	0.00	0.00	0.13	37.62
54	super.money #	0.13	5.04	0.00	0.00	0.00	0.00	0.13	5.04
55	Dhani	0.11	13.84	0.00	0.00	0.00	0.00	0.11	13.84
56	Bank of India Apps	0.10	38.05	0.00	0.00	0.00	0.00	0.10	38.05
57	Ultracash #	0.09	6.51	0.00	0.00	0.00	0.00	0.09	6.51
58	Tamilnad Mercantile Bank Apps	0.08	26.21	0.00	0.00	0.00	0.00	0.08	26.21
59	City Union Bank Apps	0.08	28.66	0.00	0.00	0.00	0.00	0.08	28.66
60	POPClub #	0.07	4.87	0.00	0.00	0.00	0.00	0.07	4.87
61	Citi Bank Apps	0.06	70.21	0.00	0.00	0.00	0.30	0.07	70.51
62	Aditya Birla Capital Digital #	0.07	3.45	0.00	0.00	0.00	0.00	0.07	3.45
63	IDBI Bank Apps	0.07	27.06	0.00	0.00	0.00	0.00	0.07	27.06
64	NSDL Payments Bank Apps	0.06	10.09	0.00	0.00	0.00	0.00	0.06	10.09
65	Bank of Maharashtra Apps	0.05	11.11	0.00	0.00	0.00	0.00	0.05	11.11
66	Karur Vysya Bank Apps	0.05	18.73	0.00	0.00	0.00	0.00	0.05	18.73
67	Niyo Global #	0.05	24.78	0.00	0.00	0.00	0.00	0.05	24.78
68	Equitas Small Finance Bank Apps	0.04	26.25	0.00	0.00	0.00	0.00	0.04	26.25
69	Punjab Sind Bank Apps	0.03	12.38	0.00	0.00	0.00	0.00	0.03	12.38
70	Other Apps	1.41	180.43	0.00	0.00	0.13	3.67	1.54	184.11

Note:-

App volume in table is basis the Payer App logic, i.e the financial transaction is attributed to the PSP in UPI on the Payer’s side.
All B2C (Business to Customer) & B2B (Business to Business) transactions is attributed to respective PSP .
From January 2021 onwards, ‘On-us Transactions’ in UPI that are not processed and settled through the UPI Central System is shown under ‘On-us Transactions’ column.
Apps which has volume less than 20,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Maximum registered user base of hundred (100) million in UPI
3rd Party Apps (TPAP) Volume Market Share statistics excludes the cross-border transactions and new/recent features
On Us transactions of Airtel Payments Bank Apps have been incoroprated in B2B Payments
# Denotes 3rd Party Apps (TPAP)

UPI P2P and P2M Transactions

UPI P2P and P2M Transactions
Month	Total		P2P		P2M
Month	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
Jun’24	13,885.14	20,07,081.16	5,164.39	14,47,142.17	8,720.75	5,59,938.98

Glossary

P2P - P2P transactions are payments done by person to a person i.e. Peer to Peer Payments.
P2M - P2M transactions are payments done by person to a merchant i.e. Peer to Merchant Payments

UPI Payer PSP Performance

UPI Payer PSP Performance (June'24)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes bank Ltd.	5,109.48	92.73%	7.12%	0.15%
2	AXIS Bank Ltd.	4,019.53	94.17%	5.67%	0.16%
3	ICICI Bank Ltd.	2,681.98	93.75%	6.09%	0.16%
4	State Bank of India	1,473.39	95.76%	4.09%	0.16%
5	HDFC Bank Ltd.	1,303.26	95.19%	4.69%	0.12%
6	Tri O Tech Solutions Private Limited	50.77	100.00%	0.00%	0.00%
7	Kotak Mahindra Bank Ltd	42.91	100.00%	0.00%	0.00%
8	BHIM	27.47	93.42%	6.37%	0.21%
9	Airtel Payments Bank Ltd	16.38	96.18%	3.74%	0.08%
10	RBL Bank Ltd.	8.11	95.44%	4.40%	0.16%
11	IDFC First Bank	7.78	99.41%	0.59%	0.01%
12	India Post Payments Bank Ltd	6.01	99.98%	0.02%	0.00%
13	Federal Bank Ltd.	5.80	97.94%	2.04%	0.02%
14	One Mobikwik Systems Pvt - Ltd	3.62	100.00%	0.00%	0.00%
15	Garagepreneurs Internet Private Limited	3.64	100.00%	0.00%	0.00%

UPI Payee PSP Performance (June'24)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes bank Ltd.	7,968.92	93.44%	6.41%	0.15%
2	AXIS Bank Ltd.	2,412.86	94.54%	5.29%	0.17%
3	ICICI Bank Ltd.	1,497.20	93.83%	6.02%	0.15%
4	State bank Of India	840.24	94.54%	5.31%	0.15%
5	HDFC Bank Ltd.	766.45	94.65%	5.23%	0.13%
6	Federal Bank Ltd.	319.03	96.91%	2.95%	0.14%
7	Cosmos Bank	260.40	90.00%	9.83%	0.17%
8	Indusind Bank Ltd.	81.64	94.25%	5.62%	0.13%
9	Airtel Payments Bank Ltd	71.72	94.82%	5.05%	0.13%
10	RBL Bank Ltd.	64.33	93.72%	6.01%	0.27%
11	Canara Bank	51.96	96.48%	3.39%	0.13%
12	Kotak Mahindra Bank Ltd	45.37	95.35%	4.48%	0.17%
13	One Mobikwik Systems Pvt - Ltd	40.95	96.49%	3.39%	0.12%
14	Indian Bank	36.26	93.07%	6.76%	0.17%
15	Fino Payments Bank Ltd.	29.60	90.38%	9.46%	0.17%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
PSP - Payment Service Provider
Payer PSP - Under this function a bank can onboard a customer, create his/ her UPI ID, create device binding which is used as a first factor of Authentication, using this customer can enter their UPI PIN to approve a financial transaction or non-financial request where ever necessary.
Payee PSP - Under this function a bank can onboard a customer/merchant & allow them to receive money basis allocated UPI ID or raise a Collect request. It is also known as beneficiary PSP/resolving PSP.

UPI Merchant Category Classification - Jun 24

UPI Merchant Category-wise Classification - Jun'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit card cal
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5912	Drug stores and pharmacies
	5462	Bakeries
	5311	Department stores
	4900	Utilities electric, gas, water and sanitary
Medium Transacting Categories	5451	Dairies
	7322	Debt collection agencies
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges
	5441	Candy, nut and confectionery shops
	5422	Freezer and locker meat provisioners
	5921	Package shops beer, wine and liquor
	7622	Electronics repair shops
	5993	Cigar shops and stands
	6211	Securities brokers and dealers
	5262	Online Marketplaces
All Other Categories	5137	Mens, womens and childrens uniforms and commercial clothing
	5732	Electronics shops
	7230	Beauty and barber shops
	4112	Passenger railways
	9399	Government services not elsewhere classified
	5331	Variety stores
	4121	Passenger railways
	6012	Financial institutions merchandise and services
	5691	Mens and womens clothing shops
	Others

Glossary

Category classification is made in terms of Approved UPI transaction Volume.
High Transacting Categories: Top 10 MCCs
Medium Transacting Categories: Next 10 MCCs
All Other Categories: Next 9 MCCs along with all other MCCs clubbed under 'Others'
MCC Description is with reference to ISO 18245:2003 standard

UPI Top 50 Banks Performance (May'24)

UPI Remitter Banks - Top 50 Banks (May'24)
Sr. No.	UPI Remitter Banks (May-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	3758.35	94.80%	5.01%	0.20%	13.29	98.55%
2	HDFC Bank Ltd	1211.41	95.75%	4.19%	0.06%	3.69	98.50%
3	Bank of Baroda	930.35	92.49%	6.56%	0.95%	4.50	84.38%
4	Union Bank of India	876.18	94.38%	5.38%	0.24%	3.38	78.77%
5	Punjab National Bank	785.36	93.64%	6.05%	0.31%	3.19	87.42%
6	Kotak Mahindra Bank	746.83	92.83%	6.78%	0.39%	3.56	63.74%
7	Canara Bank	670.33	92.87%	6.15%	0.98%	5.16	72.09%
8	ICICI Bank	627.63	96.33%	3.62%	0.05%	1.65	95.22%
9	Axis Bank Ltd.	627.47	95.60%	4.39%	0.02%	1.77	95.16%
10	Bank of India	454.54	93.16%	5.16%	1.68%	2.77	61.76%
11	Indian Bank	427.45	94.11%	5.65%	0.24%	1.53	83.49%
12	Airtel Payments Bank	413.75	91.27%	8.20%	0.52%	1.75	96.34%
13	India Post Payment Bank	317.28	86.84%	12.47%	0.70%	1.34	82.16%
14	Federal Bank	212.71	94.09%	5.44%	0.47%	0.75	89.02%
15	Central Bank Of India	206.31	87.26%	11.16%	1.57%	1.59	69.46%
16	Indian Overseas Bank	197.96	94.32%	5.24%	0.44%	0.75	88.54%
17	UCO Bank	184.22	93.72%	6.16%	0.11%	0.72	87.45%
18	IDBI Bank Limited	159.28	94.40%	5.46%	0.14%	0.55	90.23%
19	Bank of Maharashtra	152.68	92.45%	5.48%	2.06%	1.14	57.34%
20	Indusind Bank	150.37	92.32%	7.38%	0.31%	0.96	97.88%
21	Fino Payments Bank Limited	140.12	92.59%	7.19%	0.22%	0.66	75.30%
22	Yes Bank Ltd	121.13	94.05%	5.90%	0.05%	0.30	89.05%
23	Karnataka Bank	110.31	93.24%	6.47%	0.29%	0.41	84.19%
24	IDFC First Bank	87.12	92.89%	7.06%	0.04%	0.27	93.96%
25	Karur Vysya Bank	68.36	93.97%	5.85%	0.18%	0.21	93.36%
26	Jammu and Kashmir Bank	66.17	93.91%	4.48%	1.60%	0.64	32.81%
27	Bandhan Bank	59.24	91.70%	6.70%	1.60%	0.27	96.55%
28	South Indian Bank	54.78	95.49%	4.41%	0.10%	0.14	90.82%
29	Tri O Tech Solutions Private Limited	50.10	100.00%	0.00%	0.00%	0.00	0.00%
30	AU small Finance Bank	47.67	93.42%	5.75%	0.83%	0.25	76.77%
31	Ujjivan Small Finance Bank	45.10	93.75%	5.64%	0.61%	0.22	70.45%
32	City Union Bank	41.63	92.90%	6.73%	0.37%	0.14	99.12%
33	Punjab and Sind Bank	38.16	92.76%	6.89%	0.36%	0.19	82.65%
34	Tamilnad Mercantile Bank	38.01	92.38%	7.19%	0.44%	0.12	79.30%
35	Equitas Small Finance Bank	33.53	92.55%	7.18%	0.27%	0.15	85.61%
36	Andhra Pradesh Grameena Vikas Bank	29.80	85.93%	12.05%	2.02%	0.19	69.54%
37	Kerala Gramin Bank	29.05	92.97%	5.66%	1.37%	0.16	62.06%
38	Pragathi Krishna Gramin Bank	27.76	89.64%	7.36%	3.00%	0.40	55.43%
39	DBS Bank India Limited	27.40	94.26%	5.59%	0.16%	0.09	72.20%
40	Maharashtra Gramin Bank	26.27	86.04%	11.57%	2.39%	0.12	57.65%
41	Rajasthan Marudhara Gramin Bank	25.55	86.55%	11.29%	2.16%	0.23	36.91%
42	Standard Chartered	25.23	96.94%	2.87%	0.18%	0.07	88.23%
43	Saraswat Bank	23.75	95.17%	4.19%	0.64%	0.09	71.49%
44	Baroda UP Gramin Bank	23.63	78.17%	9.63%	12.20%	0.73	18.03%
45	ESAF Small Finance Bank Ltd.	22.91	95.23%	4.54%	0.23%	0.07	98.57%
46	Fincare Small Finance Bank Ltd	21.54	85.62%	13.92%	0.46%	0.10	86.35%
47	Sarva Haryana Gramin Bank	20.85	86.11%	12.06%	1.83%	0.20	39.45%
48	Citi Bank	20.03	96.49%	3.14%	0.37%	0.07	99.11%
49	Andhra Pragathi Grameena Bank	18.23	83.62%	13.00%	3.38%	0.28	22.98%
50	RBL Bank Limited	16.38	89.18%	9.91%	0.92%	0.09	54.47%

UPI Top 50 Banks Performance (May'24)

UPI Beneficiary Banks - Top 50 Banks (May'24)
Sr.No.	UPI Beneficiary Banks (May-2024)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd	5597.32	99.96%	0.02%	0.02%	0.00%
2	State Bank of India	1589.47	99.76%	0.10%	0.15%	0.05%
3	Axis Bank Ltd	1290.76	99.88%	0.11%	0.00%	0.01%
4	HDFC Bank Ltd	652.69	98.85%	1.10%	0.06%	0.03%
5	ICICI Bank	633.50	99.61%	0.37%	0.02%	0.02%
6	Bank of Baroda	400.48	99.31%	0.25%	0.45%	0.14%
7	Federal Bank	391.25	99.36%	0.24%	0.41%	0.07%
8	Union Bank Of India	356.69	99.46%	0.11%	0.43%	0.04%
9	Punjab national Bank	326.47	99.36%	0.29%	0.36%	0.17%
10	Canara Bank	305.13	97.98%	1.15%	0.87%	0.36%
11	Kotak Mahindra Bank	285.74	99.27%	0.44%	0.29%	0.11%
12	Airtel Payments Bank	264.42	99.41%	0.25%	0.35%	0.09%
13	Indian Bank	230.91	98.47%	1.32%	0.22%	0.21%
14	Bank Of India	203.54	98.08%	0.82%	1.10%	0.40%
15	India Post Payment Bank	136.48	99.39%	0.28%	0.33%	0.06%
16	Indusind Bank	127.61	99.32%	0.49%	0.19%	0.04%
17	Central Bank of India	94.86	98.67%	0.57%	0.77%	0.20%
18	Indian Overseas Bank	93.82	98.87%	0.89%	0.24%	0.12%
19	UCO Bank	87.25	99.23%	0.71%	0.05%	0.03%
20	Fino Payments Bank Limited	72.06	96.62%	3.19%	0.19%	0.04%
21	IDBI Bank Limited	67.45	99.62%	0.31%	0.07%	0.01%
22	Bank of Maharashtra	62.25	97.48%	0.18%	2.34%	0.42%
23	Karnataka Bank	48.13	98.31%	1.40%	0.30%	0.04%
24	RBL Bank LTD	45.73	98.38%	1.39%	0.23%	0.12%
25	IDFC First Bank	36.08	98.76%	1.17%	0.07%	0.01%
26	Karur Vysya Bank	35.56	98.62%	1.22%	0.16%	0.04%
27	Bandhan Bank	35.28	97.94%	0.41%	1.65%	0.06%
28	South Indian Bank	34.01	98.76%	1.15%	0.09%	0.02%
29	Jammu and Kashmir Bank	32.79	99.20%	0.45%	0.35%	0.35%
30	ONE MOBIKWIK SYSTEMS LIMITED	31.71	99.96%	0.02%	0.03%	0.00%
31	AU small Finance Bank	27.89	97.90%	1.53%	0.57%	0.12%
32	Tamilnad Mercantile Bank	25.26	99.55%	0.09%	0.36%	0.04%
33	Tri O Tech Solutions Private Limited	24.56	96.07%	3.80%	0.13%	0.03%
34	Ujjivan Small Finance Bank	22.36	98.74%	0.89%	0.37%	0.25%
35	City Union Bank	21.65	97.73%	2.00%	0.27%	0.00%
36	Punjab and Sind Bank	16.69	98.68%	1.02%	0.30%	0.10%
37	Kerala Gramin Bank	15.56	98.12%	0.97%	0.91%	0.40%
38	Equitas Small Finance Bank	14.39	98.49%	1.32%	0.19%	0.06%
39	Andhra Pradesh Grameena Vikas Bank	13.89	98.87%	0.45%	0.67%	0.15%
40	Jio Payments Bank	13.39	99.05%	0.50%	0.46%	0.18%
41	Pragathi Krishna Gramin Bank	13.28	97.27%	1.18%	1.56%	0.94%
42	Maharashtra Gramin Bank	12.25	97.65%	0.35%	2.01%	0.39%
43	CITI Bank	12.10	99.79%	0.00%	0.21%	0.30%
44	Rajasthan Marudhara Gramin Bank	12.01	97.70%	0.42%	1.88%	0.42%
45	Baroda Uttar Pradesh Gramin Bank	11.53	90.43%	0.62%	8.96%	2.70%
46	The Cosmos Co-Operative Bank Ltd	11.39	97.72%	0.09%	2.20%	0.58%
47	DBS Bank India Limited	11.22	97.51%	1.57%	0.92%	0.06%
48	ESAF Small Finance Bank Ltd.	11.10	99.73%	0.19%	0.08%	0.02%
49	Fincare Small Finance Bank Ltd	10.07	96.43%	3.15%	0.41%	0.06%
50	Andhra Pragathi Grameena Bank	9.22	97.03%	0.88%	2.10%	0.37%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
The Debit Reversal Success percentage indicates the % of total cases, where a customer account may be debited and their bank is unable to confirm instantly about the status of reversal of such a debit. When reversal/credit is not processed instantly, it is processed manually by the bank as per the extant RBI guidelines.
Deemed Approved (Pending Credit Confirmation for UPI remittance transactions) - Deemed Approved percentage indicates the total percentage of cases of the total transactions, where credit confirmations are not received online from the beneficiary banks for the credit. If the beneficiary account is not credited online, transaction would be manually processed by the beneficiary bank as per the extant RBI guidelines.
Remitter - The account holder who is sending the money
Beneficiary - The account holder who is receiving money
Remitter Bank - The bank of the account holder who is sending the money
Beneficiary Bank - The bank of the account holder who is receiving money

UPI Apps (May'24)

UPI Apps (May'24)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		On-us Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	PhonePe	6,831.92	10,33,588.80	0.00	0.00	0.00	0.00	0.00	0.00	6,831.92	10,33,588.80
2	Google Pay	5,219.56	7,23,315.70	0.00	0.00	0.00	0.00	0.00	0.00	5,219.56	7,23,315.70
3	Paytm (OCL)	1,140.01	1,24,704.79	0.00	0.00	0.00	0.00	0.00	0.00	1,140.01	1,24,704.80
4	Cred	140.08	47,547.15	0.00	0.00	0.00	0.00	0.00	0.00	140.08	47,547.15
5	Amazon Pay	68.34	7,419.41	0.00	0.00	0.00	0.00	0.00	0.00	68.34	7,419.41
6	Axis Bank Apps	14.15	3,722.58	49.93	2,184.74	0.01	2.89	0.00	0.00	64.08	5,910.20
7	ICICI Bank Apps	38.50	15,332.69	4.22	449.37	9.37	12,661.97	0.00	0.00	52.10	28,444.03
8	FamApp by Trio	50.10	630.89	0.00	0.00	0.00	0.00	0.00	0.00	50.10	630.89
9	Kotak Mahindra Bank Apps	43.41	6,178.23	0.00	0.00	0.00	0.00	0.00	0.00	43.41	6,178.23
10	WhatsApp	36.45	2,938.72	0.00	0.00	0.00	0.00	0.00	0.00	36.45	2,938.72
11	HDFC Bank Apps	35.40	8,104.06	0.02	0.06	0.01	0.32	0.00	0.00	35.43	8,104.44
12	Navi	29.72	958.09	0.00	0.00	0.00	0.00	0.00	0.00	29.72	958.09
13	BHIM	23.43	8,095.99	0.00	0.00	0.00	0.00	0.00	0.00	23.43	8,095.99
14	Yes Bank Apps	22.48	10,939.53	0.00	0.00	0.26	32.11	0.00	0.00	22.75	10,971.64
15	Airtel Payments Bank Apps	17.29	1,329.67	0.00	0.00	0.00	0.48	0.00	0.05	17.29	1,330.15
16	Mobikwik	11.12	2,536.09	0.00	0.00	0.00	0.00	0.00	0.00	11.12	2,536.09
17	Groww	10.15	7,086.12	0.00	0.00	0.00	0.00	0.00	0.00	10.15	7,086.12
18	Bajaj Finserv	9.55	1,685.51	0.00	0.00	0.00	0.00	0.00	0.00	9.55	1,685.51
19	Slice	9.05	646.12	0.00	0.00	0.00	0.00	0.00	0.00	9.05	646.12
20	State Bank of India Apps	7.12	2,494.20	0.00	0.00	0.00	0.00	0.00	0.00	7.12	2,494.20
21	IDFC Bank Apps	6.99	1,690.27	0.00	0.00	0.00	0.00	0.00	0.00	6.99	1,690.27
22	Samsung Pay	6.56	547.28	0.00	0.00	0.00	0.00	0.00	0.00	6.56	547.28
23	Jupiter	6.07	769.10	0.00	0.00	0.00	0.00	0.00	0.00	6.07	769.10
24	Federal Bank Apps	5.95	811.83	0.00	0.00	0.00	0.00	0.00	0.00	5.95	811.83
25	India Post Payments Bank Apps	5.67	703.81	0.00	0.00	0.00	0.00	0.00	0.00	5.67	703.81
26	Flipkart	4.44	251.85	0.00	0.00	0.00	0.00	0.00	0.00	4.44	251.85
27	Canara Bank Apps	3.06	828.58	0.00	0.00	0.00	0.00	0.00	0.00	3.06	828.58
28	Deutsche Bank Apps	2.34	369.39	0.00	0.00	0.00	0.03	0.00	0.00	2.34	369.42
29	RBL Bank Apps	2.20	900.13	0.00	0.00	0.05	31.21	0.00	0.00	2.24	931.34
30	Jio Payments Bank Apps	2.02	170.98	0.00	0.00	0.00	0.00	0.00	0.00	2.02	170.98
31	Punjab National Bank Apps	1.74	444.50	0.00	0.00	0.00	0.00	0.00	0.00	1.74	444.50
32	Timepay	1.61	17.59	0.00	0.00	0.00	0.10	0.00	0.00	1.61	17.69
33	Indian Bank Apps	1.54	319.53	0.00	0.00	0.00	10.05	0.00	0.00	1.55	329.58
34	OmniCard	1.24	45.65	0.00	0.00	0.00	0.00	0.00	0.00	1.24	45.65
35	Union Bank Apps	1.19	505.23	0.00	0.00	0.00	0.00	0.00	0.00	1.19	505.24
36	Bank of Baroda Apps	1.02	456.55	0.00	0.00	0.00	7.31	0.00	0.00	1.02	463.85
37	Central Bank of India Apps	0.95	213.29	0.00	0.00	0.00	0.00	0.00	0.00	0.95	213.29
38	AU Small Finance Bank Apps	0.82	249.60	0.00	0.00	0.00	0.00	0.00	0.00	0.82	249.60
39	DBS Digibank Apps	0.48	192.60	0.00	0.00	0.00	0.49	0.00	0.00	0.48	193.09
40	South Indian Bank Apps	0.47	141.47	0.00	0.00	0.00	0.00	0.00	0.00	0.47	141.47
41	Jammu and Kashmir Bank Apps	0.43	64.02	0.00	0.00	0.00	0.00	0.00	0.00	0.43	64.02
42	Fino Payments bank Apps	0.38	53.86	0.00	0.00	0.00	0.00	0.00	0.00	0.38	53.86
43	HSBC Bank Apps	0.37	144.05	0.00	0.05	0.00	0.00	0.00	0.00	0.37	144.11
44	IndusInd Bank Apps	0.35	73.84	0.00	0.00	0.00	0.58	0.00	0.00	0.36	74.41
45	Shriram One	0.29	36.28	0.00	0.00	0.00	0.00	0.00	0.00	0.29	36.28
46	Bank of India Apps	0.21	81.09	0.00	0.00	0.00	0.00	0.00	0.00	0.21	81.09
47	UCO Bank Apps	0.20	65.61	0.00	0.00	0.00	0.00	0.00	0.00	0.20	65.61
48	Kiwi	0.18	36.03	0.00	0.00	0.00	0.00	0.00	0.00	0.18	36.03
49	TataNeu	0.18	25.10	0.00	0.00	0.00	0.00	0.00	0.00	0.18	25.10
50	Standard Chartered Bank Apps	0.16	114.40	0.00	0.00	0.00	0.02	0.00	0.00	0.16	114.42
51	Digikhata	0.16	52.29	0.00	0.00	0.00	0.00	0.00	0.00	0.16	52.29
52	Karnataka Bank Apps	0.16	30.00	0.00	0.00	0.00	0.00	0.00	0.00	0.16	30.00
53	Indian Overseas Bank Apps	0.12	34.43	0.00	0.00	0.00	0.00	0.00	0.00	0.12	34.43
54	Dhani	0.11	13.12	0.00	0.00	0.00	0.00	0.00	0.00	0.11	13.12
55	Ultracash	0.09	6.19	0.00	0.00	0.00	0.00	0.00	0.00	0.09	6.19
56	Tamilnad Mercantile Bank Apps	0.08	25.66	0.00	0.00	0.00	0.00	0.00	0.00	0.08	25.66
57	Citi Bank Apps	0.08	66.69	0.00	0.00	0.00	0.05	0.00	0.00	0.08	66.74
58	City Union Bank Apps	0.08	28.77	0.00	0.00	0.00	0.00	0.00	0.00	0.08	28.77
59	NSDL Payments Bank Apps	0.07	12.71	0.00	0.00	0.00	0.00	0.00	0.00	0.07	12.71
60	IDBI Bank Apps	0.07	27.32	0.00	0.00	0.00	0.00	0.00	0.00	0.07	27.32
61	Aditya Birla Capital Digital	0.05	1.84	0.00	0.00	0.00	0.00	0.00	0.00	0.05	1.84
62	Karur Vysya Bank Apps	0.05	20.63	0.00	0.00	0.00	0.00	0.00	0.00	0.05	20.63
63	Bank of Maharashtra Apps	0.05	10.37	0.00	0.00	0.00	0.12	0.00	0.00	0.05	10.49
64	Niyo Global	0.04	22.56	0.00	0.00	0.00	0.00	0.00	0.00	0.04	22.56
65	MakeMyTrip	0.04	18.12	0.00	0.00	0.00	0.00	0.00	0.00	0.04	18.12
66	Equitas Small Finance Bank Apps	0.04	25.35	0.00	0.00	0.00	0.00	0.00	0.00	0.04	25.35
67	Punjab Sind Bank Apps	0.03	12.97	0.00	0.00	0.00	0.00	0.00	0.00	0.03	12.97
68	Other Apps	1.15	145.19	0.00	0.00	0.14	3.74	0.00	0.00	1.29	148.93

Note:-

App volume in table is basis the Payer App logic, i.e the financial transaction is attributed to the PSP in UPI on the Payer’s side.
All B2C (Business to Customer) & B2B (Business to Business) transactions is attributed to respective PSP .
From January 2021 onwards, ‘On-us Transactions’ in UPI that are not processed and settled through the UPI Central System is shown under ‘On-us Transactions’ column.
Apps which has volume less than 10,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Maximum registered user base of hundred (100) million in UPI
TPAP Volume Market Share statistics excludes the cross-border transactions.

UPI P2P and P2M Transactions

UPI P2P and P2M Transactions
Month	Total		P2P		P2M
Month	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
May’24	14,035.84	20,44,937.05	5,231.01	14,88,235.39	8,804.83	5,56,701.66

Glossary

P2P - P2P transactions are payments done by person to a person i.e. Peer to Peer Payments.
P2M - P2M transactions are payments done by person to a merchant i.e. Peer to Merchant Payments

UPI Payer PSP Performance

UPI Payer PSP Performance (May'24)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	YES BANK LTD	5,297.04	92.93%	6.98%	0.09%
2	AXIS BANK LTD	4,029.90	94.30%	5.60%	0.10%
3	ICICI BANK	2,756.94	93.97%	5.93%	0.10%
4	STATE BANK OF INDIA	1,360.48	95.85%	4.09%	0.06%
5	HDFC BANK LTD	1,280.26	95.39%	4.53%	0.08%
6	TRI O TECH SOLUTIONS PRIVATE LIMITED	50.10	100.00%	0.00%	0.00%
7	KOTAK MAHINDRA BANK	43.65	100.00%	0.00%	0.00%
8	BHIM	27.76	93.44%	6.42%	0.14%
9	AIRTEL PAYMENTS BANK	17.95	96.34%	3.62%	0.04%
10	RBL BANK	7.99	95.79%	4.13%	0.08%
11	IDBI BANK LTD	7.49	99.21%	0.78%	0.01%
12	FEDERAL BANK	6.09	97.89%	2.09%	0.02%
13	INDIA POST PAYMENT BANK	5.68	99.97%	0.03%	0.00%
14	GARAGEPRENEURS INTERNET PRIVATE LIMITED	4.86	100.00%	0.00%	0.00%
15	CANARA BANK	3.49	95.50%	4.13%	0.37%

UPI Payee PSP Performance (May'24)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	YES BANK LTD	8,057.45	93.67%	6.24%	0.09%
2	AXIS BANK LTD	2,436.30	94.55%	5.35%	0.10%
3	ICICI BANK	1,521.86	93.86%	6.05%	0.09%
4	STATE BANK OF INDIA	867.88	94.46%	5.46%	0.08%
5	HDFC BANK LTD	754.96	95.00%	4.93%	0.08%
6	FEDERAL BANK	322.26	96.99%	2.94%	0.08%
7	AIRTEL PAYMENTS BANK	72.58	94.87%	5.05%	0.08%
8	COSMOS BANK	71.19	90.83%	9.03%	0.14%
9	INDUSIND BANK	68.86	94.65%	5.27%	0.08%
10	RBL BANK	58.44	93.59%	6.22%	0.20%
11	KOTAK MAHINDRA BANK	44.14	95.29%	4.61%	0.11%
12	CANARA BANK	43.17	96.54%	3.39%	0.07%
13	INDIAN BANK	40.65	91.95%	7.90%	0.15%
14	ONE MOBIKWIK SYSTEMS LIMITED	32.82	96.55%	3.36%	0.08%
15	FINO PAYMENTS BANK LIMITED	26.47	91.26%	8.62%	0.12%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
PSP - Payment Service Provider
Payer PSP - Under this function a bank can onboard a customer, create his/ her UPI ID, create device binding which is used as a first factor of Authentication, using this customer can enter their UPI PIN to approve a financial transaction or non-financial request where ever necessary.
Payee PSP - Under this function a bank can onboard a customer/merchant & allow them to receive money basis allocated UPI ID or raise a Collect request. It is also known as beneficiary PSP/resolving PSP.

UPI Merchant Category Classification - May 24

UPI Merchant Category-wise Classification - May'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit card cal
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5462	Bakeries
	5912	Drug stores and pharmacies
	5311	Department stores
	4900	Utilities electric, gas, water and sanitary
Medium Transacting Categories	5451	Dairies
	7322	Debt collection agencies
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges
	5441	Candy, nut and confectionery shops
	5422	Freezer and locker meat provisioners
	7622	Electronics repair shops
	4812	Telecommunication equipment and telephone sales
	5921	Package shops beer, wine and liquor
	4899	Cable and other pay television services
	5993	Cigar shops and stands
All Other Categories	5262	Online Marketplaces
	5732	Electronics shops
	5137	Mens, womens and childrens uniforms and commercial clothing
	6211	Securities brokers and dealers
	7230	Beauty and barber shops
	9399	Government services not elsewhere classified
	4112	Passenger railways
	5331	Variety stores
	6012	Financial institutions merchandise and services
	Others

Glossary

Category classification is made in terms of Approved UPI transaction Volume.
High Transacting Categories: Top 10 MCCs
Medium Transacting Categories: Next 10 MCCs
All Other Categories: Next 9 MCCs along with all other MCCs clubbed under 'Others'
MCC Description is with reference to ISO 18245:2003 standard

UPI Top 50 Banks Performance (Apr'24)

UPI Remitter Banks - Top 50 Banks (Apr'24)
Sr. No.	UPI Remitter Banks (Apr-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	3581.27	94.10%	5.01%	0.89%	19.18	93.66%
2	HDFC BANK LTD	1157.04	95.82%	4.08%	0.09%	4.42	98.73%
3	Bank of Baroda	898.17	90.39%	8.02%	1.59%	8.48	81.39%
4	Union Bank of India	837.24	93.13%	5.28%	1.59%	7.04	45.38%
5	Punjab National Bank	741.90	92.96%	5.93%	1.11%	4.1	83.01%
6	Kotak Mahindra Bank	725.32	91.77%	6.45%	1.78%	7.04	44.42%
7	Canara Bank	642.10	93.39%	5.95%	0.66%	4.15	72.05%
8	Axis Bank Ltd.	609.02	95.74%	4.23%	0.03%	2.1	96.79%
9	ICICI Bank	599.22	96.37%	3.55%	0.08%	2.19	91.25%
10	Bank of India	439.70	93.67%	5.02%	1.31%	2.61	70.73%
11	Indian Bank	407.28	93.97%	5.88%	0.15%	1.67	93.94%
12	Airtel Payments Bank	395.64	90.62%	8.66%	0.72%	2.03	95.18%
13	India Post Payment Bank	270.23	82.88%	15.95%	1.16%	1.90	54.96%
14	Federal Bank	206.55	94.70%	5.26%	0.04%	0.71	99.58%
15	Central Bank Of India	200.60	85.38%	10.79%	3.83%	3.30	45.28%
16	Indian Overseas Bank	187.73	93.24%	5.02%	1.74%	1.25	89.65%
17	UCO Bank	171.92	93.70%	6.14%	0.16%	1.10	80.12%
18	Bank of Maharashtra	151.41	93.14%	5.47%	1.39%	0.97	71.96%
19	IDBI Bank Limited	151.25	94.24%	5.24%	0.51%	1.38	46.04%
20	INDUSIND BANK	150.57	92.05%	7.07%	0.89%	1.03	93.86%
21	Fino Payments Bank Limited	134.12	90.89%	8.59%	0.51%	0.78	75.50%
22	Yes Bank Ltd	106.01	92.93%	6.53%	0.53%	0.41	76.06%
23	Karnataka Bank	105.44	92.61%	6.33%	1.05%	0.62	74.86%
24	IDFC FIRST Bank	83.34	92.89%	6.98%	0.13%	0.00	0.00%
25	Karur Vysya Bank	65.73	93.97%	5.82%	0.22%	0.29	83.65%
26	Jammu and Kashmir Bank	58.65	94.07%	4.77%	1.16%	0.50	40.95%
27	Bandhan Bank	55.96	92.46%	5.73%	1.81%	0.32	96.90%
28	South Indian Bank	52.51	95.40%	4.47%	0.12%	0.16	94.38%
29	Tri O Tech Solutions Private Limited	46.64	100.00%	0.00%	0.00%	0.00	0.00%
30	AU small Finance Bank	45.86	92.76%	6.19%	1.05%	0.30	83.29%
31	Ujjivan Small Finance Bank	42.92	94.15%	5.62%	0.24%	0.20	96.40%
32	City Union Bank	39.67	92.80%	6.91%	0.29%	0.14	95.58%
33	Tamilnad Mercantile Bank	36.11	91.84%	7.57%	0.59%	0.13	87.60%
34	Punjab and Sind Bank	34.51	82.94%	8.05%	9.01%	1.29	23.91%
35	Equitas Bank	32.32	92.77%	7.15%	0.07%	0.15	96.09%
36	Andhra Pradesh Grameena Vikas Bank	29.08	85.16%	13.06%	1.78%	0.19	77.26%
37	Kerala Gramin Bank	27.50	92.37%	6.21%	1.42%	0.20	59.83%
38	Pragathi Krishna Gramin Bank	26.83	88.21%	8.07%	3.72%	0.47	43.83%
39	DBS Bank India Limited	26.42	94.37%	5.46%	0.17%	0.11	80.06%
40	Maharashtra Gramin Bank	25.64	85.76%	11.70%	2.54%	0.14	60.83%
41	Rajasthan Marudhara Gramin Bank	24.19	86.99%	12.02%	0.99%	0.12	80.01%
42	Standard Chartered	24.01	96.49%	2.85%	0.66%	0.09	82.30%
43	Saraswat Bank	23.34	94.90%	4.48%	0.62%	0.11	75.37%
44	Baroda UP Gramin Bank	22.48	75.41%	9.17%	15.41%	0.78	18.33%
45	Fincare Small Finance Bank Ltd	21.68	84.95%	14.46%	0.59%	0.13	90.47%
46	ESAF Small Finance Bank Ltd.	21.48	94.68%	4.92%	0.40%	0.10	92.16%
47	Citi Bank	19.73	96.53%	3.11%	0.36%	0.08	98.72%
48	Sarva Haryana Gramin Bank	18.34	91.76%	7.50%	0.74%	0.12	67.26%
49	Andhra Pragathi Grameena Bank	18.19	79.51%	14.58%	5.92%	0.23	32.75%
50	RBL Bank Limited	15.10	89.02%	10.26%	0.72%	0.00	NA

UPI Top 50 Banks Performance (Apr'24)

UPI Beneficiary Banks - Top 50 Banks (Apr'24)
Sr.No.	UPI Beneficiary Banks (Apr-2024)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd	5,076.40	99.97%	0.02%	0.01%	0.00%
2	State Bank Of India	1,512.29	99.01%	0.11%	0.89%	0.18%
3	Axis Bank Ltd.	1,248.35	99.92%	0.08%	0.00%	0.04%
4	HDFC BANK LTD	625.05	98.74%	1.19%	0.07%	0.02%
5	ICICI Bank	606.73	99.58%	0.40%	0.02%	0.02%
6	Bank of Baroda	376.04	98.51%	1.01%	0.49%	0.31%
7	Federal Bank	373.70	99.74%	0.23%	0.03%	0.00%
8	Union Bank of India	346.48	97.99%	0.13%	1.88%	0.44%
9	Punjab National Bank	311.53	98.62%	0.39%	0.99%	0.20%
10	Canara Bank	297.27	98.17%	1.24%	0.59%	0.21%
11	Kotak Mahindra Bank	283.22	97.82%	1.13%	1.05%	0.33%
12	Airtel Payments Bank	253.57	99.19%	0.23%	0.58%	0.12%
13	Indian Bank	220.90	98.97%	0.91%	0.11%	0.13%
14	Bank of India	197.52	98.76%	0.40%	0.84%	0.16%
15	INDUSIND BANK	124.15	98.54%	0.83%	0.64%	0.10%
16	India Post Payment Bank	111.72	98.04%	1.30%	0.65%	0.31%
17	Central Bank Of India	92.14	97.91%	0.36%	1.73%	0.52%
18	Indian Overseas Bank	87.08	98.24%	0.45%	1.31%	0.35%
19	UCO Bank	84.09	98.49%	0.70%	0.81%	0.09%
20	Fino Payments Bank Limited	65.46	96.15%	3.18%	0.66%	0.07%
21	IDBI Bank Limited	65.04	98.63%	0.44%	0.93%	0.51%
22	Bank of Maharashtra	60.58	98.65%	0.19%	1.16%	0.20%
23	RBL Bank Limited	52.02	97.84%	2.01%	0.15%	0.07%
24	Karnataka Bank	46.09	97.89%	1.23%	0.88%	0.09%
25	IDFC FIRST Bank	35.26	98.60%	1.28%	0.11%	0.04%
26	Karur Vysya Bank	34.16	98.29%	1.19%	0.52%	0.08%
27	Bandhan Bank	33.71	97.87%	0.28%	1.85%	0.07%
28	South Indian Bank	32.20	98.40%	1.49%	0.11%	0.02%
29	AU small Finance Bank	28.54	96.21%	3.06%	0.73%	0.13%
30	Jammu and Kashmir Bank	27.28	99.07%	0.66%	0.28%	0.28%
31	Tamilnad Mercantile Bank	23.83	99.39%	0.10%	0.51%	0.03%
32	Tri O Tech Solutions Private Limited	23.07	95.36%	4.50%	0.15%	0.02%
33	Ujjivan Small Finance Bank	21.39	98.93%	0.92%	0.15%	0.11%
34	City Union Bank	20.60	97.95%	1.82%	0.24%	0.02%
35	Kerala Gramin Bank	14.82	98.92%	0.30%	0.77%	0.54%
36	Punjab and Sind Bank	14.56	92.73%	0.79%	6.48%	2.90%
37	Equitas Small Finance Bank	14.05	98.23%	1.50%	0.27%	0.02%
38	Andhra Pradesh Grameena Vikas Bank	13.65	98.85%	0.56%	0.59%	0.08%
39	Pragathi Krishna Gramin Bank	13.14	97.54%	0.40%	2.07%	1.21%
40	Jio Payments Bank	13.01	98.77%	0.37%	0.86%	0.47%
41	Maharashtra Gramin Bank	11.84	97.53%	0.33%	2.14%	0.29%
42	DBS Bank India Limited	11.43	97.26%	1.79%	0.95%	0.08%
43	Rajasthan Marudhara Gramin Bank	11.34	99.43%	0.38%	0.19%	0.04%
44	Baroda UP Gramin Bank	11.01	88.10%	0.65%	11.26%	2.49%
45	Fincare Small Finance Bank Ltd	10.50	96.19%	3.29%	0.53%	0.05%
46	ESAF Small Finance Bank Ltd.	10.43	99.68%	0.13%	0.19%	0.11%
47	Citi Bank	9.88	99.81%	0.00%	0.19%	0.24%
48	Andhra Pragathi Grameena Bank	9.29	95.43%	1.17%	3.40%	0.12%
49	Sarva Haryana Gramin Bank	7.88	99.00%	0.38%	0.62%	0.16%
50	Saraswat Bank	7.64	96.99%	2.39%	0.62%	0.14%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
The Debit Reversal Success percentage indicates the % of total cases, where a customer account may be debited and their bank is unable to confirm instantly about the status of reversal of such a debit. When reversal/credit is not processed instantly, it is processed manually by the bank as per the extant RBI guidelines.
Deemed Approved (Pending Credit Confirmation for UPI remittance transactions) - Deemed Approved percentage indicates the total percentage of cases of the total transactions, where credit confirmations are not received online from the beneficiary banks for the credit. If the beneficiary account is not credited online, transaction would be manually processed by the beneficiary bank as per the extant RBI guidelines.
Remitter - The account holder who is sending the money
Beneficiary - The account holder who is receiving money
Remitter Bank - The bank of the account holder who is sending the money
Beneficiary Bank - The bank of the account holder who is receiving money

UPI Apps (Apr'24)

UPI Apps (Apr'24)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		On-us Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	PhonePe	6,500.14	10,01,679.63	0.00	0.00	0.00	0.00	0.00	0.00	6,500.14	10,01,679.63
2	Google Pay	5,027.32	6,94,189.68	0.00	0.00	0.00	0.00	0.00	0.00	5,027.32	6,94,189.68
3	Paytm	1,117.13	1,22,554.24	0.00	0.01	0.00	0.00	0.00	0.00	1,117.13	1,22,554.25
4	Cred	138.46	43,233.21	0.00	0.00	0.00	0.00	0.00	0.00	138.46	43,233.21
5	Axis Bank Apps	13.53	3,313.28	56.27	3,168.22	0.01	1.74	0.00	0.00	69.80	6,483.24
6	Amazon Pay	64.33	6,784.82	0.00	0.00	0.00	0.00	0.00	0.00	64.33	6,784.82
7	ICICI Bank Apps	35.39	14,357.18	3.57	336.49	8.45	11,945.21	0.00	0.00	47.41	26,638.88
8	Fampay	46.64	588.00	0.00	0.00	0.00	0.00	0.00	0.00	46.64	588.00
9	Kotak Mahindra Bank Apps	41.54	6,101.88	0.00	0.00	0.00	0.00	0.00	0.00	41.54	6,101.88
10	HDFC Bank Apps	35.99	7,689.44	0.00	0.00	0.01	0.32	0.00	0.00	35.99	7,689.76
11	WhatsApp	34.12	2,815.68	0.00	0.00	0.00	0.00	0.00	0.00	34.12	2,815.68
12	BHIM	25.48	8,670.52	0.00	0.00	0.00	0.00	0.00	0.00	25.48	8,670.52
13	Yes Bank Apps	21.99	11,978.36	0.00	0.00	0.27	31.04	0.00	0.00	22.26	12,009.40
14	Airtel Payments Bank Apps	16.19	1,243.65	0.00	0.00	0.00	0.40	0.00	0.09	16.19	1,244.14
15	Navi	15.10	402.92	0.00	0.00	0.00	0.00	0.00	0.00	15.10	402.92
16	Bajaj Finserv	10.29	1,819.55	0.00	0.00	0.00	0.00	0.00	0.00	10.29	1,819.55
17	Mobikwik	9.76	2,248.19	0.00	0.00	0.00	0.00	0.00	0.00	9.76	2,248.19
18	Groww	8.02	5,452.72	0.00	0.00	0.00	0.00	0.00	0.00	8.02	5,452.72
19	Slice	7.51	608.62	0.00	0.00	0.00	0.00	0.00	0.00	7.51	608.62
20	State Bank of India Apps	6.49	2,385.64	0.00	0.00	0.04	1.14	0.00	0.00	6.53	2,386.79
21	IDFC Bank Apps	6.45	1,581.78	0.00	0.00	0.00	0.00	0.00	0.00	6.45	1,581.78
22	Samsung Pay	6.30	527.40	0.00	0.00	0.00	0.00	0.00	0.00	6.30	527.40
23	Federal Bank Apps	6.14	821.80	0.00	0.00	0.00	0.00	0.00	0.00	6.14	821.80
24	Jupiter	5.92	710.69	0.00	0.00	0.00	0.00	0.00	0.00	5.92	710.69
25	India Post Payments Bank Apps	5.08	687.52	0.00	0.00	0.00	0.00	0.00	0.00	5.08	687.52
26	Flipkart UPI	3.46	174.73	0.00	0.00	0.00	0.00	0.00	0.00	3.46	174.73
27	Deutsche Bank Apps	3.28	441.56	0.00	0.00	0.00	0.02	0.00	0.00	3.28	441.58
28	Canara Bank Apps	3.03	812.15	0.00	0.00	0.00	0.00	0.00	0.00	3.03	812.15
29	Timepay	2.15	24.14	0.00	0.00	0.00	0.10	0.00	0.00	2.16	24.25
30	Jio Payments Bank Apps	1.87	164.17	0.00	0.00	0.00	0.00	0.00	0.00	1.87	164.17
31	Punjab National Bank Apps	1.66	419.99	0.00	0.00	0.00	0.00	0.00	0.00	1.66	419.99
32	RBL Bank Apps	1.46	529.18	0.00	0.01	0.11	117.10	0.00	0.00	1.57	646.29
33	Indian Bank Apps	1.50	310.69	0.00	0.00	0.00	6.71	0.00	0.00	1.50	317.40
34	Union Bank Apps	1.25	525.02	0.00	0.00	0.00	0.00	0.00	0.00	1.25	525.02
35	Omnicard	1.06	37.27	0.00	0.00	0.00	0.00	0.00	0.00	1.06	37.27
36	Bank of Baroda Apps	0.99	459.50	0.00	0.00	0.00	8.27	0.00	0.00	0.99	467.77
37	Central Bank of India Apps	0.89	204.45	0.00	0.00	0.00	0.00	0.00	0.00	0.89	204.45
38	AU Small Finance Bank Apps	0.80	257.99	0.00	0.00	0.00	0.00	0.00	0.00	0.80	257.99
39	Go Kiwi	0.58	92.87	0.00	0.00	0.00	0.00	0.00	0.00	0.58	92.87
40	DBS Digibank Apps	0.46	182.52	0.00	0.00	0.00	0.38	0.00	0.00	0.47	182.89
41	South Indian Bank Apps	0.43	129.71	0.00	0.00	0.00	0.00	0.00	0.00	0.43	129.71
42	Shriram One	0.40	37.49	0.00	0.00	0.00	0.00	0.00	0.00	0.40	37.49
43	Fino Payments bank Apps	0.35	49.47	0.00	0.00	0.00	0.00	0.00	0.00	0.35	49.47
44	IndusInd Bank Apps	1.06	191.64	0	0	0	0.26	0	0	1.06	191.90
45	HSBC Bank Apps	0.32	126.55	0.00	0.05	0.00	0.00	0.00	0.00	0.32	126.59
46	TataNeu	0.32	34.06	0.00	0.00	0.00	0.00	0.00	0.00	0.32	34.06
47	Bank of India Apps	0.21	87.25	0.00	0.00	0.00	0.00	0.00	0.00	0.21	87.25
48	Standard Chartered Bank Apps	0.16	105.48	0.00	0.00	0.00	0.03	0.00	0.00	0.16	105.51
49	UCO Bank Apps	0.16	54.30	0.00	0.00	0.00	0.00	0.00	0.00	0.16	54.30
50	Digikhata	0.15	51.08	0.00	0.00	0.00	0.00	0.00	0.00	0.15	51.08
51	Karnataka Bank Apps	0.15	27.18	0.00	0.00	0.00	0.00	0.00	0.00	0.15	27.18
52	Jupiter Edge	0.14	22.88	0.00	0.00	0.00	0.00	0.00	0.00	0.14	22.88
53	Dhani	0.13	7.44	0.00	0.00	0.00	0.00	0.00	0.00	0.13	7.44
54	Indian Overseas Bank Apps	0.11	30.10	0.00	0.00	0.00	0.00	0.00	0.00	0.11	30.10
55	Ultracash	0.09	6.16	0.00	0.00	0.00	0.00	0.00	0.00	0.09	6.16
56	Tamilnad Mercantile Bank Apps	0.09	24.69	0.00	0.00	0.00	0.00	0.00	0.00	0.09	24.69
57	City Union Bank Apps	0.08	26.60	0.00	0.00	0.00	0.00	0.00	0.00	0.08	26.60
58	NSDL Payments Bank Apps	0.08	11.88	0.00	0.00	0.00	0.00	0.00	0.00	0.08	11.88
59	Citi Bank Apps	0.06	69.18	0.00	0.00	0.00	0.01	0.00	0.00	0.06	69.19
60	IDBI Bank Apps	0.06	20.15	0.00	0.00	0.00	0.00	0.00	0.00	0.06	20.15
61	Bank of Maharashtra Apps	0.06	13.96	0.00	0.00	0.00	0.10	0.00	0.00	0.06	14.06
62	Karur Vysya Bank Apps	0.05	18.94	0.00	0.00	0.00	0.00	0.00	0.00	0.05	18.94
63	MakeMyTrip	0.04	19.32	0.00	0.00	0.00	0.00	0.00	0.00	0.04	19.32
64	Go Niyo	0.04	16.77	0.00	0.00	0.00	0.00	0.00	0.00	0.04	16.77
65	Equitas Small Finance Bank Apps	0.03	25.52	0.00	0.00	0.00	0.00	0.00	0.00	0.03	25.52
66	Punjab Sind Bank Apps	0.03	12.15	0.00	0.00	0.00	0.00	0.00	0.00	0.03	12.15
67	Allahabad Bank Apps	0.02	6.18	0.00	0.00	0.00	0.00	0.00	0.00	0.02	6.18
68	Fave	0.02	1.16	0.00	0.00	0.00	0.00	0.00	0.00	0.02	1.16
69	Cheq	0.01	1.13	0.00	0.00	0.00	0.00	0.00	0.00	0.01	1.13
70	Other Apps	1.03	108.18	0.00	0.00	0.15	4.42	0.00	0.00	1.18	112.60

Note:-

App volume in table is basis the Payer App logic, i.e the financial transaction is attributed to the PSP in UPI on the Payer’s side.
All B2C (Business to Customer) & B2B (Business to Business) transactions is attributed to respective PSP .
From January 2021 onwards, ‘On-us Transactions’ in UPI that are not processed and settled through the UPI Central System is shown under ‘On-us Transactions’ column.
Apps which has volume less than 10,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Maximum registered user base of hundred (100) million in UPI
TPAP Volume Market Share statistics excludes the cross-border transactions.

UPI P2P and P2M Transactions

UPI P2P and P2M Transactions
Month	Total		P2P		P2M
Month	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
Apr’24	13,303.99	19,64,464.52	4,996.52	14,33,520.79	8,307.47	5,30,943.73

Glossary

P2P - P2P transactions are payments done by person to a person i.e. Peer to Peer Payments.
P2M - P2M transactions are payments done by person to a merchant i.e. Peer to Merchant Payments

UPI Payer PSP Performance

UPI Payer PSP Performance (Apr'24)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	YES BANK LTD	5118.50	92.73%	7.10%	0.17%
2	AXIS BANK LTD.	3794.19	94.05%	5.75%	0.19%
3	ICICI BANK	2627.42	93.80%	6.01%	0.19%
4	STATE BANK OF INDIA	1231.71	95.71%	4.18%	0.11%
5	HDFC BANK LTD	1215.36	95.24%	4.63%	0.12%
6	TRI O TECH SOLUTIONS PRIVATE LIMITED	46.64	100.00%	0.00%	0.00%
7	KOTAK MAHINDRA BANK	41.81	100.00%	0.00%	0.00%
8	BHIM	27.42	92.90%	6.85%	0.26%
9	AIRTEL PAYMENTS BANK	16.92	95.70%	4.22%	0.07%
10	IDBI BANK LIMITED	6.85	99.12%	0.87%	0.01%
11	FEDERAL BANK	6.28	97.90%	2.08%	0.03%
12	RBL Bank	6.28	95.22%	4.61%	0.17%
13	INDIA POST PAYMENT BANK	5.09	99.98%	0.02%	0.00%
14	GARAGEPRENEURS INTERNET PRIVATE LIMITED	3.88	100.00%	0.00%	0.00%
15	CANARA BANK	3.36	95.42%	4.23%	0.35%

UPI Payee PSP Performance (Apr'24)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	YES BANK LTD	7639.57	93.55%	6.28%	0.16%
2	AXIS BANK LTD.	2174.25	94.11%	5.71%	0.19%
3	ICICI BANK	1461.34	93.53%	6.29%	0.18%
4	STATE BANK OF INDIA	787.30	94.19%	5.68%	0.13%
5	HDFC BANK LTD	726.18	94.85%	4.99%	0.16%
6	FEDERAL BANK	306.19	96.74%	3.10%	0.16%
7	AIRTEL PAYMENTS BANK	70.51	94.75%	5.11%	0.14%
8	INDUSIND BANK	65.36	94.53%	5.31%	0.17%
9	COSMOS BANK	61.64	90.73%	9.08%	0.19%
10	RBL BANK	61.54	93.30%	6.45%	0.25%
11	KOTAK MAHINDRA BANK	44.53	94.67%	5.13%	0.19%
12	CANARA BANK	41.68	96.45%	3.41%	0.14%
13	INDIAN BANK	37.22	92.12%	7.66%	0.22%
14	ONE MOBIKWIK SYSTEMS LIMITED	26.80	96.47%	3.39%	0.14%
15	TRI O TECH SOLUTIONS PRIVATE LIMITED	23.65	92.74%	7.05%	0.21%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
PSP - Payment Service Provider
Payer PSP - Under this function a bank can onboard a customer, create his/ her UPI ID, create device binding which is used as a first factor of Authentication, using this customer can enter their UPI PIN to approve a financial transaction or non-financial request where ever necessary.
Payee PSP - Under this function a bank can onboard a customer/merchant & allow them to receive money basis allocated UPI ID or raise a Collect request. It is also known as beneficiary PSP/resolving PSP.

UPI Merchant Category Classification - Apr 24

UPI Merchant Category-wise Classification - Apr'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit ca
	5816	Digital Goods: Games
	5541	Service stations (with or without ancillary services)
	5912	Drug stores and pharmacies
	5462	Bakeries
	5311	Department stores
	5451	Dairies
Medium Transacting Categories	4900	Utilities electric, gas, water and sanitary
	7322	Debt collection agencies
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lou
	5441	Candy, nut and confectionery shops
	7622	Electronics repair shops
	5137	Mens, womens and childrens uniforms and commercial clothing
	5993	Cigar shops and stands
	5921	Package shops beer, wine and liquor
	5422	Freezer and locker meat provisioners
	5732	Electronics shops
All Other Categories	7230	Beauty and barber shops
	6211	Securities brokers and dealers
	9399	Government services not elsewhere classified
	5262	Online Marketplaces
	4112	Passenger railways
	5691	Mens and womens clothing shops
	6012	Financial institutions merchandise and services
	5331	Variety stores
	5651	Family clothing shops
	Others

Glossary

Category classification is made in terms of Approved UPI transaction Volume.
High Transacting Categories: Top 10 MCCs
Medium Transacting Categories: Next 10 MCCs
All Other Categories: Next 9 MCCs along with all other MCCs clubbed under 'Others'
MCC Description is with reference to ISO 18245:2003 standard

UPI Top 50 Banks Performance (Mar'24)

UPI Remitter Banks - Top 50 Banks (Mar'24)
Sr. No.	UPI Remitter Banks (Mar-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	3557.54	94.99%	4.70%	0.32%	16.59	95.04%
2	HDFC BANK LTD	1158.51	96.13%	3.86%	0.01%	4.26	99.60%
3	Bank of Baroda	882.82	93.30%	6.25%	0.45%	4.40	96.49%
4	Union Bank of India	848.59	93.47%	5.14%	1.40%	6.51	53.92%
5	Punjab National Bank	728.08	94.22%	5.54%	0.23%	3.49	99.11%
6	Kotak Mahindra Bank	703.56	93.66%	6.20%	0.14%	3.28	90.24%
7	Canara Bank	642.81	93.72%	5.91%	0.37%	3.68	81.79%
8	Axis Bank Ltd.	630.13	96.07%	3.93%	0.01%	2.14	97.72%
9	ICICI Bank	603.62	96.40%	3.52%	0.09%	2.07	95.68%
10	Bank of India	434.19	94.63%	5.03%	0.34%	2.23	84.44%
11	Indian Bank	400.98	94.39%	5.40%	0.21%	2.44	75.20%
12	Airtel Payments Bank	387.91	91.25%	8.63%	0.12%	2.14	95.89%
13	India Post Payment Bank	312.23	80.17%	13.85%	5.98%	3.15	46.99%
14	Federal Bank	204.83	94.79%	5.01%	0.20%	0.76	98.04%
15	Central Bank Of India	200.37	85.98%	10.69%	3.33%	2.61	51.15%
16	Indian Overseas Bank	188.01	92.66%	4.92%	2.42%	1.21	91.57%
17	UCO Bank	171.87	93.19%	5.90%	0.91%	1.34	57.58%
18	Bank of Maharashtra	153.39	89.77%	5.41%	4.83%	1.43	59.23%
19	IDBI Bank Limited	151.70	93.27%	5.26%	1.47%	0.99	70.17%
20	INDUSIND BANK	142.64	92.76%	6.76%	0.47%	0.91	92.70%
21	Fino Payments Bank Limited	136.77	88.98%	9.53%	1.48%	0.92	70.73%
22	Karnataka Bank	106.23	92.83%	6.07%	1.10%	0.61	71.09%
23	Yes Bank Ltd	103.43	94.43%	5.40%	0.17%	0.35	95.02%
24	Paytm Payments Bank	98.18	89.73%	10.25%	0.03%	0.35	96.43%
25	IDFC FIRST Bank	83.30	92.99%	6.72%	0.28%	0.39	82.51%
26	Karur Vysya Bank	67.68	91.62%	5.87%	2.51%	0.45	79.24%
27	Bandhan Bank	54.03	93.13%	5.90%	0.97%	0.30	98.34%
28	South Indian Bank	53.06	95.66%	4.30%	0.04%	0.15	96.38%
29	Jammu and Kashmir Bank	52.39	94.19%	5.01%	0.80%	0.40	58.67%
30	AU small Finance Bank	45.20	93.76%	5.01%	1.23%	0.35	91.10%
31	Tri O Tech Solutions Private Limited	43.69	100.00%	0.00%	0.00%	0.00	0.00%
32	Ujjivan Small Finance Bank	42.64	94.16%	5.62%	0.22%	0.21	95.46%
33	City Union Bank	40.70	92.12%	7.57%	0.31%	0.14	99.51%
34	Punjab and Sind Bank	36.91	88.97%	6.85%	4.18%	0.65	41.18%
35	Tamilnad Mercantile Bank	36.68	91.40%	6.86%	1.75%	0.23	52.03%
36	Equitas Bank	32.26	92.46%	7.26%	0.28%	0.17	96.21%
37	Andhra Pradesh Grameena Vikas Bank	28.83	84.18%	12.67%	3.15%	0.30	56.53%
38	Kerala Gramin Bank	27.13	92.84%	6.20%	0.96%	0.15	52.05%
39	DBS Bank India Limited	26.67	94.70%	5.04%	0.26%	0.11	81.96%
40	Pragathi Krishna Gramin Bank	26.20	89.82%	8.08%	2.10%	0.30	49.95%
41	Maharashtra Gramin Bank	25.45	87.57%	11.61%	0.83%	0.09	94.05%
42	Standard Chartered	25.13	97.12%	2.69%	0.19%	0.09	94.80%
43	Rajasthan Marudhara Gramin Bank	24.86	83.35%	11.87%	4.78%	0.29	41.00%
44	Saraswat Bank	23.28	95.74%	3.94%	0.32%	0.10	82.32%
45	Baroda UP Gramin Bank	22.31	74.22%	10.56%	15.22%	1.02	14.65%
46	ESAF Small Finance Bank Ltd.	21.76	93.86%	5.08%	1.06%	0.13	73.09%
47

UPI Ecosystem Statistics

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UPI Merchant Category Classification - Sep 24

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UPI Top 50 Member Performance (August'24)

UPI Top 50 Member Performance (August'24)

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UPI Apps (Aug'24)

UPI P2P and P2M Transactions

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UPI Payer PSP Performance

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UPI Merchant Category Classification - Aug 24

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UPI Top 50 Member Performance (July'24)

UPI Top 50 Banks Performance (July'24)

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UPI Apps (Jul'24)

UPI P2P and P2M Transactions

Glossary

UPI Payer PSP Performance

Glossary

UPI Merchant Category Classification - Jul 24

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UPI Top 50 Member Performance (June'24)

UPI Top 50 Member Performance (June'24)

Glossary

UPI Apps (Jun'24)

UPI P2P and P2M Transactions

Glossary

UPI Payer PSP Performance

Glossary

UPI Merchant Category Classification - Jun 24

Glossary

UPI Top 50 Banks Performance (May'24)

UPI Top 50 Banks Performance (May'24)

Glossary

UPI Apps (May'24)

UPI P2P and P2M Transactions

Glossary

UPI Payer PSP Performance

Glossary

UPI Merchant Category Classification - May 24

Glossary

UPI Top 50 Banks Performance (Apr'24)

UPI Top 50 Banks Performance (Apr'24)

Glossary

UPI Apps (Apr'24)

UPI P2P and P2M Transactions

Glossary

UPI Payer PSP Performance

Glossary

UPI Merchant Category Classification - Apr 24

Glossary

UPI Top 50 Banks Performance (Mar'24)