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UPI Ecosystem Statistics

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UPI Top 50 Banks Performance (Apr'23)
UPI Remitter Banks - Top 50 Banks (Apr'23)
Sr. No. UPI Remitter Banks (Apr-2023) Total Volume (In Mn) Approved % BD % TD% Total Debit Reversal Count (In Mn) Debit Reversal Success %
1 State Bank of India 2298.06 93.37% 4.69% 1.94% 8.38 95.68%
2 HDFC BANK LTD 797.45 96.04% 3.61% 0.35% 3.29 95.17%
3 Bank of Baroda 589.97 93.37% 6.35% 0.28% 1.98 98.94%
4 Union Bank of India 558.92 94.06% 4.40% 1.54% 3.01 66.96%
5 ICICI Bank 456.92 96.67% 3.02% 0.31% 3.06 63.74%
6 Punjab National Bank 429.32 94.35% 4.53% 1.12% 2.36 85.70%
7 Kotak Mahindra Bank 420.44 94.51% 4.95% 0.54% 3.72 89.86%
8 Axis Bank Ltd 419.45 95.75% 4.12% 0.13% 1.39 77.12%
9 Canara Bank 410.23 94.14% 5.33% 0.53% 4.63 80.40%
10 Paytm Payments Bank 403.18 96.01% 3.92% 0.07% 1.04 99.58%
11 Bank of India 298.42 95.51% 4.11% 0.38% 1.57 71.04%
12 Indian Bank 241.65 94.22% 5.42% 0.36% 1.20 78.64%
13 Airtel Payments Bank 203.03 84.88% 14.70% 0.43% 0.70 88.24%
14 India Post Payment Bank 170.07 68.79% 19.69% 11.52% 0.60 67.74%
15 Central Bank Of India 143.94 89.12% 8.58% 2.30% 2.05 59.35%
16 Federal Bank 140.58 95.05% 4.84% 0.11% 0.49 90.07%
17 Indian Overseas Bank 114.60 93.86% 5.10% 1.04% 0.80 76.12%
18 IDBI Bank Limited 108.52 93.92% 4.05% 2.03% 0.66 67.01%
19 UCO Bank 106.14 93.31% 5.79% 0.90% 0.51 74.33%
20 Bank of Maharashtra 101.34 92.88% 4.44% 2.68% 0.57 73.06%
21 INDUSIND BANK 86.38 93.87% 5.50% 0.63% 0.29 93.93%
22 Yes Bank Ltd 83.98 94.30% 5.18% 0.53% 0.32 0.00%
23 Fino Payments Bank Limited 77.30 81.79% 15.43% 2.78% 0.38 79.01%
24 Karnataka Bank 73.39 90.95% 6.77% 2.28% 0.58 36.72%
25 IDFC FIRST Bank 65.41 93.84% 5.29% 0.87% 0.38 42.68%
26 Karur Vysya Bank 45.52 93.32% 6.30% 0.38% 0.18 93.95%
27 Bandhan Bank 40.20 83.17% 11.83% 5.00% 0.19 17.93%
28 South Indian Bank 35.35 95.40% 4.38% 0.22% 0.19 97.12%
29 Jammu and Kashmir Bank 28.65 85.16% 6.51% 8.33% 0.16 53.22%
30 City Union Bank 26.60 92.01% 7.23% 0.75% 0.14 82.07%
31 Ujjivan Small Finance Bank 25.30 93.44% 6.05% 0.52% 0.15 55.64%
32 AU small Finance Bank 25.25 94.73% 5.16% 0.11% 0.09 0.03%
33 Equitas Bank 24.78 89.64% 9.84% 0.51% 0.11 94.37%
34 Punjab and Sind Bank 24.18 72.89% 12.14% 14.97% 0.10 74.71%
35 Tamilnad Mercantile Bank 22.61 93.27% 6.31% 0.42% 0.08 56.86%
36 DBS Bank India Limited 22.47 95.48% 4.10% 0.42% 0.02 97.00%
37 Standard Chartered 20.58 95.48% 2.64% 1.89% 0.10 96.28%
38 Citibank 18.93 96.10% 3.34% 0.56% 0.07 94.85%
39 Andhra Pradesh Grameena Vikas Bank 18.59 81.16% 12.74% 6.10% 0.21 14.73%
40 Pragathi Krishna Gramin Bank 17.59 89.02% 10.14% 0.84% 0.21 56.54%
41 Maharashtra Gramin Bank 17.58 79.86% 14.29% 5.85% 0.22 17.55%
42 Saraswat Bank 17.41 94.12% 4.83% 1.05% 0.07 79.27%
43 ESAF Small Finance Bank Ltd. 16.00 73.35% 25.56% 1.09% 0.04 96.76%
44 Kerala Gramin Bank 15.48 90.69% 8.76% 0.55% 0.06 85.07%
45 Rajasthan Marudhara Gramin Bank 15.25 77.19% 17.48% 5.33% 0.22 10.80%
46 Andhra Pragathi Grameena Bank 12.27 55.23% 32.09% 12.68% 0.35 6.53%
47 RBL 12.05 93.08% 6.36% 0.55% 0.06 72.51%
48 Sarva Haryana Gramin Bank 11.59 91.79% 7.34% 0.87% 0.11 5.09%
49 Baroda UP Gramin Bank 11.10 85.69% 10.93% 3.38% 0.05 73.44%
50 Fincare Small Finance Bank Ltd 9.21 84.10% 11.08% 4.82% 0.02 28.26%
UPI Top 50 Banks Performance (Apr'23)
UPI Beneficiary Banks - Top 50 Banks (Apr'23)
Sr.No. UPI Beneficiary Banks (Apr-2023) Total Volume (In Mn) Approved % BD% TD% Deemed Approved %
1 Paytm Payments Bank 1973.67 99.73% 0.23% 0.04% 0.00%
2 Yes Bank Ltd 1914.76 99.98% 0.03% 0.04% 0.01%
3 State Bank of India 966.28 98.07% 0.21% 1.48% 0.23%
4 Axis Bank Ltd 636.48 99.87% 0.09% 0.01% 0.03%
5 ICICI Bank 590.66 99.57% 0.24% 0.10% 0.08%
6 HDFC BANK LTD 443.16 99.23% 0.50% 0.23% 0.04%
7 Bank of Baroda 269.46 99.50% 0.14% 0.16% 0.19%
8 Union Bank of India 260.41 99.04% 0.16% 0.74% 0.06%
9 Punjab National Bank 203.59 99.04% 0.34% 0.39% 0.24%
10 Federal Bank 202.49 99.70% 0.21% 0.05% 0.05%
11 Canara Bank 202.15 99.14% 0.11% 0.30% 0.45%
12 Kotak Mahindra Bank 198.71 97.46% 0.39% 1.65% 0.49%
13 Bank of India 147.23 99.25% 0.23% 0.48% 0.04%
14 Indian Bank 119.18 99.18% 0.18% 0.41% 0.22%
15 Airtel Payments Bank 113.09 99.23% 0.39% 0.17% 0.21%
16 INDUSIND BANK 85.37 99.20% 0.20% 0.46% 0.14%
17 Central Bank Of India 71.27 98.29% 0.58% 0.69% 0.44%
18 India Post Payment Bank 67.58 92.60% 0.94% 6.26% 0.20%
19 Indian Overseas Bank 57.66 97.84% 0.75% 1.34% 0.07%
20 UCO Bank 52.37 98.25% 0.69% 0.77% 0.30%
21 IDBI Bank Limited 51.34 98.23% 0.38% 1.35% 0.04%
22 IDFC FIRST Bank 44.42 97.52% 0.93% 1.01% 0.54%
23 Bank of Maharashtra 42.01 96.54% 0.21% 2.95% 0.30%
24 Karnataka Bank 33.81 96.15% 0.69% 2.13% 1.02%
25 Karur Vysya Bank 26.37 99.28% 0.42% 0.26% 0.04%
26 RBL 35.25 99.65% 0.60% 0.23% 0.09%
27 Fino Payments Bank Limited 25.50 97.00% 0.84% 1.99% 0.18%
28 South Indian Bank 24.07 99.54% 0.20% 0.19% 0.06%
29 Bandhan Bank 23.65 93.77% 0.33% 5.76% 0.14%
30 AU small Finance Bank 18.18 98.39% 1.34% 0.08% 0.19%
31 City Union Bank 14.52 98.36% 1.08% 0.49% 0.07%
32 Tamilnad Mercantile Bank 14.05 99.17% 0.26% 0.29% 0.29%
33 Ujjivan Small Finance Bank 13.58 98.55% 0.29% 0.33% 0.83%
34 CITI 12.49 99.31% 0.00% 0.34% 0.34%
35 Equitas Bank 11.69 97.49% 1.98% 0.40% 0.13%
36 Jammu and Kashmir Bank 11.47 94.25% 0.43% 5.24% 0.08%
37 Punjab and Sind Bank 10.98 87.57% 0.17% 12.19% 0.07%
38 Pragathi Krishna Gramin Bank 9.78 98.38% 0.27% 0.29% 1.07%
39 Kerala Gramin Bank 9.29 99.03% 0.20% 0.20% 0.57%
40 Andhra Pradesh Grameena Vikas Bank 9.21 95.46% 0.91% 2.61% 1.01%
41 DBS Bank India Limited 9.13 97.78% 1.26% 0.49% 0.47%
42 Cosmos Bank 8.23 98.97% 0.27% 0.44% 0.32%
43 Maharashtra Gramin Bank 8.21 96.55% 0.65% 2.61% 0.18%
44 ESAF Small Finance Bank Ltd. 7.27 99.05% 0.12% 0.77% 0.06%
45 Baroda UP Gramin Bank 7.15 95.43% 2.29% 2.06% 0.23%
46 Rajasthan Marudhara Gramin Bank 7.13 96.52% 0.31% 2.06% 1.12%
47 Saraswat Bank 6.39 98.39% 0.21% 1.29% 0.10%
48 Andhra Pragathi Grameena Bank 5.96 86.81% 0.34% 10.61% 2.24%
49 Sarva Haryana Gramin Bank 5.53 96.49% 0.47% 0.79% 2.25%
50 Baroda Rajasthan Kshetriya Gramin Bank 4.81 94.55% 2.61% 1.17% 1.67%

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'23)
UPI Apps (Apr'23)
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 Airtel Payments Bank Apps 9.04 640.16 0.00 0.00 0.00 0.00 0.00 0.06 9.04 640.22
2 Allahabad Bank Apps 0.03 8.96 0.00 0.00 0.00 0.00 0.00 0.00 0.03 8.96
3 Amazon Pay 53.44 5,351.07 0.00 0.00 0.00 0.00 0.00 0.00 53.44 5,351.07
4 AU Small Finance Bank Apps 0.63 184.93 0.00 0.00 0.00 0.00 0.00 0.00 0.63 184.93
5 Axis Bank Apps 9.36 1,584.45 42.35 282.63 0.03 2.81 0.00 0.00 51.74 1,869.89
6 Bajaj Finserv 7.68 1,053.08 0.00 0.00 0.00 0.00 0.00 0.00 7.68 1,053.08
7 Bandhan Bank Apps 0.01 1.44 0.00 0.00 0.00 0.00 0.00 0.00 0.01 1.44
8 Bank of Baroda Apps 1.06 392.74 0.00 0.00 0.00 0.00 0.00 0.00 1.06 392.74
9 Bank of India Apps 0.22 66.93 0.00 0.00 0.00 0.00 0.00 0.00 0.22 66.93
10 Bank of Maharashtra Apps 0.06 19.83 0.00 0.00 0.00 0.00 0.00 0.00 0.06 19.83
11 BHIM 23.77 7,368.61 0.00 0.00 0.00 0.00 0.00 0.00 23.77 7,368.61
12 BPAYWALLET 0.05 9.91 0.00 0.00 0.00 0.00 0.00 0.00 0.05 9.91
13 Canara Bank Apps 1.40 383.46 0.00 0.00 0.00 0.00 0.00 0.00 1.40 383.46
14 Central Bank of India Apps 0.41 91.19 0.00 0.00 0.00 0.08 0.00 0.00 0.41 91.27
15 Citi Bank Apps 0.10 58.17 0.00 0.00 0.00 0.00 0.00 0.00 0.10 58.17
16 City Union Bank Apps 0.06 18.31 0.00 0.00 0.00 0.00 0.00 0.00 0.06 18.31
17 Cointab 0.02 10.61 0.00 0.00 0.00 0.00 0.00 0.00 0.02 10.61
18 Cred 45.70 20,729.56 0.00 0.00 0.00 0.00 0.00 0.00 45.70 20,729.56
19 DBS Digibank Apps 0.41 173.13 0.00 0.00 0.00 0.00 0.00 0.00 0.41 173.13
20 Deutsche Bank Apps 1.65 142.80 0.00 0.00 0.00 0.86 0.00 0.00 1.65 143.66
21 DHANI 0.08 9.21 0.00 0.00 0.00 0.00 0.00 0.00 0.08 9.21
22 Dhanlaxmi Bank Apps 0.01 2.80 0.00 0.00 0.00 0.00 0.00 0.00 0.01 2.80
23 Equitas Small Finance Bank Apps 0.02 13.86 0.00 0.00 0.00 0.00 0.00 0.00 0.02 13.86
24 FAM 11.78 146.58 0.00 0.00 0.00 0.00 0.00 0.00 11.78 146.58
25 Fave 0.03 3.27 0.00 0.00 0.00 0.00 0.00 0.00 0.03 3.27
26 Federal Bank Apps 5.18 624.64 0.00 0.00 0.00 0.00 0.00 0.00 5.18 624.64
27 Fino Payments bank Apps 0.08 5.67 0.00 0.00 0.00 0.00 0.00 0.00 0.08 5.67
28 Google Pay 3,109.24 474,049.90 0.00 0.00 0.00 0.00 0.00 0.00 3,109.24 474,049.90
29 Groww 0.11 80.85 0.00 0.00 0.00 0.00 0.00 0.00 0.11 80.85
30 HDFC Bank Apps 14.48 3,685.33 0.00 0.00 0.00 16.48 0.00 0.00 14.48 3,701.81
31 HSBC Bank Apps 0.14 90.10 0.00 0.03 0.00 0.00 0.00 0.00 0.14 90.13
32 ICICI Bank Apps 30.69 8,941.59 5.34 323.96 5.95 7,439.02 0.00 0.00 41.98 16,704.57
33 IDBI Bank Apps 0.07 32.02 0.00 0.00 0.00 0.00 0.00 0.00 0.07 32.02
34 IDFC Bank Apps 11.96 2,274.12 0.00 0.00 0.71 591.19 0.00 0.00 12.66 2,865.32
35 India Post Payments Bank Apps 5.24 746.48 0.00 0.00 0.00 0.00 0.00 0.00 5.24 746.48
36 Indian Bank Apps 0.27 75.66 0.00 0.00 0.00 10.71 0.00 0.00 0.27 86.37
37 Indian Overseas Bank Apps 0.03 7.76 0.00 0.00 0.00 0.00 0.00 0.00 0.03 7.76
38 IndusInd Bank Apps 0.80 877.27 0.00 0.00 0.00 0.00 0.00 0.00 0.80 877.27
39 Jio Payments Bank Apps 1.49 112.21 0.00 0.00 0.00 0.00 0.00 0.00 1.49 112.21
40 Jupiter 2.72 380.27 0.00 0.00 0.00 0.00 0.00 0.00 2.72 380.27
41 Jupiter Edge (LivQuick PPI) 0.11 4.25 0.00 0.00 0.00 0.00 0.00 0.00 0.11 4.25
42 Karnataka Bank Apps 0.51 110.35 0.00 0.00 0.00 0.00 0.00 0.00 0.51 110.35
43 Karur Vysya Bank Apps 0.04 14.19 0.00 0.00 0.00 0.00 0.00 0.00 0.04 14.19
44 Kotak Mahindra Bank Apps 13.98 2,845.64 0.00 0.00 0.00 0.01 0.00 0.00 13.98 2,845.65
45 MakeMyTrip 0.02 12.91 0.00 0.00 0.00 0.00 0.00 0.00 0.02 12.91
46 Mobikwik 3.48 923.59 0.00 0.00 0.00 0.00 0.00 0.00 3.48 923.59
47 NSDL Payments Bank Apps 0.02 3.42 0.00 0.00 0.00 0.00 0.00 0.00 0.02 3.42
48 OMNI 0.26 6.74 0.00 0.00 0.00 0.00 0.00 0.00 0.26 6.74
49 Paytm Payments Bank App 1,184.38 135,343.96 8.83 14.25 0.53 793.27 105.52 19,560.25 1,299.25 155,711.73
50 PhonePe 4,216.99 710,178.44 0.00 0.00 0.00 0.00 0.00 0.00 4,216.99 710,178.44
51 PINELABS 0.02 1.31 0.00 0.00 0.00 0.00 0.00 0.00 0.02 1.31
52 Punjab National Bank Apps 1.03 148.27 0.00 0.00 0.00 0.01 0.00 0.00 1.03 148.28
53 Punjab Sind Bank Apps 0.04 14.04 0.00 0.00 0.00 0.00 0.00 0.00 0.04 14.04
54 RBL Bank Apps 1.56 489.63 0.00 0.00 0.10 2.70 0.00 0.00 1.66 492.33
55 Samsung Pay 5.67 511.04 0.00 0.00 0.00 0.00 0.00 0.00 5.67 511.04
56 Slash 0.01 0.32 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.32
57 slice 0.66 170.62 0.00 0.00 0.00 0.00 0.00 0.00 0.66 170.62
58 South Indian Bank Apps 0.22 63.81 0.00 0.00 0.00 0.00 0.00 0.00 0.22 63.81
59 Standard Chartered Bank Apps 0.16 94.21 0.00 0.00 0.00 0.00 0.00 0.00 0.16 94.22
60 State Bank of India Apps 4.09 1,910.04 0.00 0.00 0.00 0.11 0.00 0.00 4.09 1,910.15
61 Tamilnad Mercantile Bank Apps 0.06 13.15 0.00 0.00 0.00 0.00 0.00 0.00 0.06 13.15
62 TataNeu 0.15 16.46 0.00 0.00 0.00 0.00 0.00 0.00 0.15 16.46
63 UCO Bank Apps 0.34 111.87 0.00 0.00 0.00 0.00 0.00 0.00 0.34 111.87
64 Ultracash 0.03 2.10 0.00 0.00 0.00 0.00 0.00 0.00 0.03 2.10
65 Union Bank Apps 0.74 301.17 0.00 0.00 0.00 0.00 0.00 0.00 0.74 301.17
66 Utkarsh Small Finance Bank Apps 0.02 6.43 0.00 0.00 0.00 0.00 0.00 0.00 0.02 6.43
67 WhatsApp 14.83 1,319.01 0.00 0.00 0.00 0.00 0.00 0.00 14.83 1,319.01
68 Yes Bank Apps 34.45 12,151.00 0.00 0.00 0.88 303.98 0.00 0.00 35.33 12,454.98
69 Others 0.03 8.54 0.00 0.00 0.00 0.00 0.00 0.00 0.03 8.54

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
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)
Apr'23 8,898.14 14,07,007.55 3,868.39 10,85,903.07 5,029.74 3,21,104.48

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'23)
Sr. No. Payer PSP Total Volume (In Mn) Approved % BD % TD %
1 Yes Bank Ltd 2,152.51 98.19% 1.76% 0.05%
2 Axis Bank Ltd 901.78 98.27% 1.69% 0.04%
3 Paytm Payments Bank 765.29 98.25% 1.70% 0.05%
4 ICICI Bank 719.84 98.38% 1.56% 0.05%
5 State Bank Of India 572.75 98.05% 1.90% 0.05%
6 HDFC Bank Ltd 511.82 98.77% 1.18% 0.06%
7 Kotak Mahindra Bank 8.26 96.48% 3.52% 0.00%
8 Airtel Payments Bank 5.56 95.16% 4.65% 0.19%
9 India Post Payment Bank 2.96 94.67% 5.30% 0.03%
10 Federal Bank 2.85 96.80% 3.15% 0.05%
11 IDFC FIRST Bank 2.83 95.14% 4.82% 0.03%
12 Jio Payments Bank 2.20 95.55% 3.88% 0.57%
13 Deutsche Bank 1.51 99.94% 0.06% 0.00%
14 IndusInd Bank 1.09 95.80% 4.20% 0.01%
15 Bank of Baroda 0.85 90.09% 9.85% 0.06%
UPI Payee PSP Performance (Apr'23)
Sr. No. Payee PSP Total Volume (In Mn) Approved % BD % TD %
1 Yes Bank Ltd 2,086.39 98.95% 0.92% 0.13%
2 Paytm Payments Bank 1,209.18 99.66% 0.34% 0.01%
3 Axis Bank Ltd 658.22 99.43% 0.49% 0.08%
4 ICICI Bank 591.22 99.28% 0.36% 0.36%
5 HDFC Bank Ltd 283.06 98.78% 0.73% 0.49%
6 State Bank Of India 279.84 99.25% 0.48% 0.26%
7 Federal Bank 69.08 96.77% 2.20% 1.02%
8 Kotak Mahindra Bank 36.83 98.90% 0.55% 0.55%
9 IndusInd Bank 30.98 98.53% 0.95% 0.52%
10 Airtel Payments Bank 13.44 99.51% 0.35% 0.14%
11 Citibank 10.28 99.29% 0.54% 0.17%
12 IDFC FIRST Bank 6.22 97.59% 1.21% 1.19%
13 Bank of Baroda 5.00 99.52% 0.33% 0.15%
14 AU small Finance Bank 3.82 99.49% 0.45% 0.06%
15 Canara Bank 2.83 98.27% 1.34% 0.39%

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 - April 23
UPI Merchant Category-wise Classification - April'23
Type MCC Description
High Transacting Categories 5411 Groceries and supermarkets
5812 Eating places and restaurants
4814 Telecommunication services, including local and long distance calls, credit card calls, calls through use of magnetic stripe reading telephones and faxes
5814 Fast food restaurants
5816 Digital Goods: Games
5311 Department stores
5541 Service stations (with or without ancillary services)
5912 Drug stores and pharmacies
5462 Bakeries
6540 Debit card to wallet credit (Wallet top up)
Medium Transacting Categories 5451 Dairies
4900 Utilities electric, gas, water and sanitary
5813 Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges and discothques
7299 Miscellaneous personal services not elsewhere classified
7322 Debt collection agencies
5399 Miscellaneous general merchandise
5331 Variety stores
5137 Mens, womens and childrens uniforms and commercial clothing
5262 Online Marketplaces
6012 Financial institutions merchandise and services
All Other Categories 5732 Electronics shops
5422 Freezer and locker meat provisioners
5441 Candy, nut and confectionery shops
7230 Beauty and barber shops
4899 Cable and other pay television services
6211 Securities brokers and dealers
4784 Tolls and bridge fees
9399 Government services not elsewhere classified
4121 Taxi-cabs and limousines
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