GO

UPI Ecosystem Statistics

Filter:

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
Volume (Mn) Value (Cr) Volume (Mn) Value (Cr) Volume (Mn) Value (Cr) Volume (Mn) Value (Cr) Volume (Mn) Value (Cr)
1 PhonePe 6831.92 1033588.80 0.00 0.00 0.00 0.00 0.00 0.00 6831.92 1033588.80
2 Google Pay 5219.56 723315.70 0.00 0.00 0.00 0.00 0.00 0.00 5219.56 723315.70
3 Paytm (OCL) 1140.01 124704.79 0.00 0.00 0.00 0.00 0.00 0.00 1140.01 124704.80
4 Cred 140.08 47547.15 0.00 0.00 0.00 0.00 0.00 0.00 140.08 47547.15
5 Amazon Pay 68.34 7419.41 0.00 0.00 0.00 0.00 0.00 0.00 68.34 7419.41
6 Axis Bank Apps 14.15 3722.58 49.93 2184.74 0.01 2.89 0.00 0.00 64.08 5910.20
7 ICICI Bank Apps 38.50 15332.69 4.22 449.37 9.37 12661.97 0.00 0.00 52.10 28444.03
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 6178.23 0.00 0.00 0.00 0.00 0.00 0.00 43.41 6178.23
10 WhatsApp 36.45 2938.72 0.00 0.00 0.00 0.00 0.00 0.00 36.45 2938.72
11 HDFC Bank Apps 35.40 8104.06 0.02 0.06 0.01 0.32 0.00 0.00 35.43 8104.44
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 8095.99 0.00 0.00 0.00 0.00 0.00 0.00 23.43 8095.99
14 Yes Bank Apps 22.48 10939.53 0.00 0.00 0.26 32.11 0.00 0.00 22.75 10971.64
15 Airtel Payments Bank Apps 17.29 1329.67 0.00 0.00 0.00 0.48 0.00 0.05 17.29 1330.15
16 Mobikwik 11.12 2536.09 0.00 0.00 0.00 0.00 0.00 0.00 11.12 2536.09
17 Groww 10.15 7086.12 0.00 0.00 0.00 0.00 0.00 0.00 10.15 7086.12
18 Bajaj Finserv 9.55 1685.51 0.00 0.00 0.00 0.00 0.00 0.00 9.55 1685.51
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 2494.20 0.00 0.00 0.00 0.00 0.00 0.00 7.12 2494.20
21 IDFC Bank Apps 6.99 1690.27 0.00 0.00 0.00 0.00 0.00 0.00 6.99 1690.27
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
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