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UPI Ecosystem Statistics

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UPI Top 50 Banks Performance (Dec'22)
UPI Remitter Banks - Top 50 Banks (Dec'22)
Sr. No. UPI Remitter Banks (Dec-2022) Total Volume (In Mn) Approved % BD % TD% Total Debit Reversal Count (In Mn) Debit Reversal Success %
1 State Bank Of India 2,128.94 91.25% 6.30% 2.45% 14.35 95.90%
2 HDFC Bank Ltd 700.19 94.08% 5.23% 0.69% 4.32 92.33%
3 Bank of Baroda 509.92 88.84% 6.30% 4.86% 5.54 72.57%
4 Union Bank of India 487.38 91.84% 7.01% 1.15% 3.59 69.01%
5 ICICI Bank 426.32 95.23% 3.60% 1.17% 3.11 65.75%
6 Axis Bank Ltd 397.64 95.47% 4.24% 0.29% 1.93 85.19%
7 Paytm Payments Bank 386.50 95.96% 3.89% 0.15% 1.94 72.44%
8 Canara Bank 361.00 92.66% 6.85% 0.49% 2.62 93.23%
9 Punjab National Bank 354.80 93.44% 5.53% 1.03% 1.32 92.35%
10 Kotak Mahindra Bank 351.80 93.90% 4.83% 1.27% 1.24 80.49%
11 Bank of India 268.67 94.98% 4.81% 0.20% 1.57 73.26%
12 Indian Bank 206.07 93.35% 5.78% 0.88% 0.89 97.07%
13 Airtel Payments Bank 154.16 84.90% 14.55% 0.56% 2.89 55.90%
14 India Post Payment Bank 147.96 69.58% 17.68% 12.74% 1.21 77.04%
15 Federal Bank 131.59 93.45% 6.49% 0.06% 1.06 81.40%
16 Central Bank Of India 128.39 88.58% 9.87% 1.55% 0.57 99.15%
17 Indian Overseas Bank 104.59 90.82% 5.56% 3.62% 0.85 85.16%
18 IDBI Bank Limited 102.97 94.47% 4.14% 1.38% 0.62 82.76%
19 Bank of Maharashtra 93.22 92.99% 4.78% 2.23% 0.76 53.95%
20 UCO Bank 89.57 93.20% 6.10% 0.70% 0.47 80.82%
21 IndusInd Bank 72.70 92.84% 6.17% 0.99% 0.53 69.75%
22 Karnataka Bank 67.08 91.40% 7.76% 0.84% 0.34 86.90%
23 IDFC FIRST Bank 66.27 92.59% 5.95% 1.46% 0.31 82.55%
24 Fino Payments Bank 58.33 82.72% 16.02% 1.25% 0.39 67.43%
25 Yes Bank Ltd 48.46 92.60% 6.72% 0.68% 0.31 94.40%
26 Karur Vysya Bank 43.70 91.30% 7.29% 1.41% 0.27 49.34%
27 South Indian Bank 34.00 93.02% 5.39% 1.59% 0.15 89.88%
28 Bandhan Bank 33.77 89.66% 8.33% 2.01% 0.18 90.10%
29 City Union Bank 24.42 92.51% 6.51% 0.98% 0.14 84.01%
30 Equitas Small Finance Bank 23.33 85.78% 13.19% 1.03% 0.35 37.35%
31 Jammu and Kashmir Bank 22.34 88.91% 7.85% 3.24% 0.13 91.73%
32 Ujjivan Small Finance Bank 22.10 87.15% 7.48% 5.36% 0.16 48.84%
33 AU small Finance Bank 21.24 93.14% 5.81% 1.05% 0.09 88.71%
34 Tamilnad Mercantile Bank 20.67 91.71% 8.06% 0.24% 0.13 53.45%
35 DBS Bank Ltd 20.13 93.49% 4.71% 1.80% 0.07 98.94%
36 Punjab and Sind Bank 20.12 83.64% 9.77% 6.59% 0.17 67.49%
37 Standard Chartered 19.53 96.71% 2.74% 0.55% 0.08 82.40%
38 Citibank 19.24 94.91% 4.13% 0.97% 0.15 44.43%
39 Andhra Pradesh Grameena Vikas Bank 17.34 82.80% 13.36% 3.84% 0.10 93.76%
40 Maharashtra Gramin Bank 16.64 71.35% 23.55% 5.10% 0.20 31.55%
41 Pragathi Krishna Gramin Bank 16.46 84.14% 13.76% 2.10% 0.19 40.99%
42 Saraswat Bank 15.79 95.72% 3.58% 0.69% 0.16 41.02%
43 Kerala Gramin Bank 14.09 87.55% 11.16% 1.29% 0.07 83.59%
44 ESAF Small Finance Bank Ltd. 12.97 84.18% 13.67% 2.15% 0.11 84.66%
45 Rajasthan Marudhara Gramin Bank 12.33 81.74% 12.24% 6.03% 0.09 62.81%
46 Sarva Haryana Gramin Bank 11.05 76.50% 16.82% 6.68% 0.07 98.88%
47 Andhra Pragathi Grameena Bank 10.58 79.84% 14.92% 5.24% 0.07 70.93%
48 RBL Bank 10.28 88.19% 7.50% 4.30% 0.09 56.49%
49 Baroda UP Gramin Bank 8.57 82.44% 13.17% 4.40% 0.09 56.53%
50 Baroda Rajasthan Kshetriya Gramin Bank 7.68 85.52% 11.49% 2.99% 0.17 47.53%
UPI Top 50 Banks Performance (Dec'22)
UPI Beneficiary Banks - Top 50 Banks (Dec'22)
Sr.No. UPI Beneficiary Banks (Dec-2022) Total Volume (In Mn) Approved % BD% TD% Deemed Approved %
1 Paytm Payments Bank 1,726.94 99.71% 0.22% 0.06% 0.02%
2 Yes Bank Ltd 1,309.96 99.82% 0.06% 0.11% 0.01%
3 State Bank Of India 938.15 97.92% 0.21% 1.71% 0.16%
4 Axis Bank Ltd. 562.51 99.77% 0.12% 0.05% 0.06%
5 ICICI Bank 543.27 98.88% 0.38% 0.71% 0.04%
6 HDFC Bank Ltd 384.38 98.72% 0.61% 0.51% 0.17%
7 Bank of Baroda 249.01 94.55% 0.38% 4.59% 0.48%
8 Union Bank of India 242.13 98.96% 0.27% 0.58% 0.19%
9 Canara Bank 185.71 99.21% 0.43% 0.24% 0.12%
10 Federal Bank 175.68 99.69% 0.29% 0.02% 0.00%
11 Punjab National Bank 174.36 98.27% 0.83% 0.71% 0.19%
12 Kotak Mahindra Bank 157.66 97.61% 0.51% 1.63% 0.25%
13 Bank of India 137.98 99.59% 0.25% 0.11% 0.05%
14 Indian Bank 101.77 98.92% 0.27% 0.57% 0.23%
15 Airtel Payments Bank 93.38 98.79% 0.53% 0.37% 0.30%
16 IndusInd Bank 66.04 98.59% 0.43% 0.80% 0.17%
17 Central Bank Of India 65.03 98.05% 0.59% 0.78% 0.57%
18 India Post Payment Bank 64.48 87.39% 1.92% 10.08% 0.61%
19 Indian Overseas Bank 53.54 97.11% 0.23% 1.96% 0.70%
20 IDBI Bank Limited 51.55 98.65% 0.41% 0.65% 0.29%
21 UCO Bank 47.42 98.64% 0.68% 0.59% 0.09%
22 IDFC FIRST Bank 42.48 96.75% 1.39% 1.62% 0.25%
23 Bank of Maharashtra 40.68 97.13% 0.30% 2.03% 0.53%
24 Karnataka Bank 32.03 98.33% 0.80% 0.82% 0.06%
25 Karur Vysya Bank 26.40 98.56% 0.50% 0.84% 0.10%
26 South Indian Bank 22.97 98.69% 0.65% 0.62% 0.04%
27 Bandhan Bank 21.26 97.22% 0.37% 2.28% 0.12%
28 Fino Payments Bank 20.73 96.94% 2.12% 0.70% 0.24%
29 AU small Finance Bank 16.42 97.82% 1.48% 0.58% 0.12%
30 Citibank 12.51 97.50% 0.00% 0.06% 0.14%
31 City Union Bank 13.70 98.57% 0.71% 0.61% 0.10%
32 Tamilnad Mercantile Bank 12.84 99.56% 0.26% 0.16% 0.02%
33 Ujjivan Small Finance Bank 12.02 94.27% 0.29% 4.84% 0.60%
34 Equitas Small Finance Bank 11.67 97.34% 1.83% 0.72% 0.11%
35 Punjab and Sind Bank 9.67 94.60% 0.21% 4.85% 0.34%
36 Pragathi Krishna Gramin Bank 9.10 98.06% 0.44% 0.95% 0.55%
37 Kerala Gramin Bank 8.99 98.38% 0.76% 0.49% 0.37%
38 Jammu and Kashmir Bank 8.83 96.99% 0.59% 2.21% 0.21%
39 Andhra Pradesh Grameena Vikas Bank 8.72 97.46% 0.33% 1.81% 0.39%
40 DBS Bank Ltd 8.49 95.01% 1.34% 3.48% 0.17%
41 ESAF Small Finance Bank Ltd. 7.11 98.28% 0.23% 1.41% 0.09%
42 Maharashtra Gramin Bank 7.11 97.08% 0.76% 1.80% 0.36%
43 Rajasthan Marudhara Gramin Bank 6.52 96.00% 0.31% 3.20% 0.49%
44 RBL Bank 6.32 95.22% 1.40% 2.48% 0.90%
45 Saraswat Bank 6.23 99.18% 0.23% 0.44% 0.15%
46 Andhra Pragathi Grameena Bank 5.94 93.76% 0.99% 4.97% 0.28%
47 Baroda UP Gramin Bank 5.87 93.84% 2.39% 3.42% 0.35%
48 Sarva Haryana Gramin Bank 5.01 92.62% 0.49% 6.61% 0.29%
49 Baroda Rajasthan Kshetriya Gramin Bank 4.41 95.13% 2.39% 2.26% 0.22%
50 Karnataka Vikas Grameena Bank 4.01 97.40% 0.00% 2.19% 0.23%

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 (Dec'22)
UPI Apps (Dec'22)
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 8.69 681.55 - - 0.00 0.00 0.00 0.12 8.70 681.67
2 Allahabad Bank Apps 0.03 9.75 - - - - - - 0.03 9.75
3 Amazon Pay 69.61 6,621.66 - - - - - - 69.61 6,621.66
4 AU Small Finance Bank Apps 0.58 177.47 - - - - - - 0.58 177.47
5 Axis Bank Apps 7.26 1,246.36 58.27 56.30 0.03 2.44 - - 65.56 1,305.09
6 Bajaj Finserv 4.56 647.71 - - - - - - 4.56 647.71
7 Bandhan Bank Apps 0.01 1.53 - - - - - - 0.01 1.53
8 Bank of Baroda Apps 1.02 397.56 - - 0.00 0.00 - - 1.02 397.56
9 Bank of India Apps 0.22 64.32 - - - - - - 0.22 64.32
10 Bank of Maharashtra Apps 0.08 19.91 - - - - - - 0.08 19.91
11 BHIM 25.50 8,400.04 - - - - - - 25.50 8,400.04
12 Canara Bank Apps 1.02 275.70 - - - - - - 1.02 275.70
13 Central Bank of India Apps 0.26 60.28 - - 0.00 0.05 - - 0.26 60.32
14 Citi Bank Apps 0.09 68.38 - - 0.00 0.00 - - 0.09 68.38
15 City Union Bank Apps 0.05 14.38 - - - - - - 0.05 14.38
16 Cointab 0.05 18.98 - - - - - - 0.05 18.98
17 Cred 31.42 19,622.29 - - - - - - 31.42 19,622.29
18 DBS Digibank Apps 0.41 171.59 - - - - - - 0.41 171.59
19 Deutsche Bank Apps 1.28 104.47 - - 0.00 0.01 - - 1.28 104.49
20 Dhanlaxmi Bank Apps 0.01 3.16 - - - - - - 0.01 3.16
21 Equitas Small Finance Bank Apps 0.02 11.69 - - - - - - 0.02 11.69
22 Fampay PPI 9.70 127.18 - - 0.00 0.01 - - 9.70 127.19
23 Fave 0.08 5.01 - - - - - - 0.08 5.01
24 Federal Bank Apps 4.57 595.17 - - 0.00 0.01 - - 4.57 595.18
25 Fino Payments bank Apps 0.11 7.49 - - - - - - 0.11 7.49
26 Google Pay 2,712.34 440,370.99 - - - - - - 2,712.34 440,370.99
27 Groww 0.21 153.02 - - - - - - 0.21 153.02
28 HDFC Bank Apps 11.81 3,143.08 - - 0.00 0.15 - - 11.81 3,143.24
29 HSBC Bank Apps 0.15 78.59 0.00 0.05 0.00 0.00 - - 0.15 78.63
30 ICICI Bank Apps 36.74 8,815.95 5.17 418.68 6.38 6,890.51 - - 48.29 16,125.15
31 IDBI Bank Apps 0.07 29.50 - - - - - - 0.07 29.50
32 IDFC Bank Apps 9.55 1,184.60 - - 0.16 138.38 - - 9.70 1,322.98
33 India Post Payments Bank Apps 5.55 682.59 - - - - - - 5.55 682.59
34 Indian Bank Apps 0.25 73.71 - - 0.00 0.00 - - 0.25 73.71
35 Indian Overseas Bank Apps 0.01 2.90 - - - - - - 0.01 2.90
36 IndusInd Bank Apps 1.26 1,062.40 - - - - - - 1.26 1,062.40
37 Janata Sahakari Bank Apps 0.01 4.58 - - - - - - 0.01 4.58
38 Jio Payments Bank Apps 1.48 104.71 - - - - - - 1.48 104.71
39 Jupiter 2.53 318.03 - - - - - - 2.53 318.03
40 Karnataka Bank Apps 0.48 91.09 - - - - - - 0.48 91.09
41 Karur Vysya Bank Apps 0.04 14.87 - - - - - - 0.04 14.87
42 Kotak Mahindra Bank Apps 11.53 2,480.17 - - 0.00 0.01 - - 11.53 2,480.18
43 MakeMyTrip 0.10 52.30 - - - - - - 0.10 52.30
44 Mobikwik 3.62 806.82 - - - - - - 3.62 806.82
45 NSDL Payments Bank Apps 0.02 2.95 - - - - - - 0.02 2.95
46 Paytm Payments Bank App 1,054.05 118,069.81 6.08 16.86 0.43 580.52 109.79 20,154.47 1,170.34 138,821.66
47 PhonePe 3,674.24 639,348.78 - - - - - - 3,674.24 639,348.78
48 Punjab National Bank Apps 0.22 76.70 - - - - - - 0.22 76.70
49 Punjab Sind Bank Apps 0.03 10.48 - - - - - - 0.03 10.48
50 RBL Bank Apps 0.92 214.40 0.00 0.01 0.18 0.89 - - 1.10 215.30
51 Samsung Pay 5.49 531.12 - - - - - - 5.49 531.12
52 Slash 0.01 0.79 - - - - - - 0.01 0.79
53 Slice 0.15 15.74 - - - - - - 0.15 15.74
54 South Indian Bank Apps 0.18 53.20 - - - - - - 0.18 53.20
55 Standard Chartered Bank Apps 0.16 90.42 0.00 0.00 0.00 0.00 - - 0.16 90.42
56 State Bank of India Apps 4.22 1,928.43 - - 0.00 0.00 - - 4.22 1,928.43
57 Tamilnad Mercantile Bank Apps 0.08 12.13 - - - - - - 0.08 12.13
58 TataNeu 0.15 17.64 - - - - - - 0.15 17.64
59 UCO Bank Apps 0.31 93.32 - - - - - - 0.31 93.32
60 Ultracash 0.03 1.65 - - - - - - 0.03 1.65
61 Union Bank Apps 0.92 310.63 - - - - - - 0.92 310.63
62 Utkarsh Small Finance Bank Apps 0.02 7.81 - - - - - - 0.02 7.81
63 WhatsApp 11.05 917.49 - - - - - - 11.05 917.49
64 Yes Bank Apps 35.98 13,324.11 0.00 0.00 0.18 91.35 - - 36.16 13,415.46
65 Others 0.03 7.64 - - 0.00 0.00 - - 0.03 7.64

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)
Dec'22 7,829.49 12,82,055.01 3,602.19 9,91,748.31 4,227.30 2,90,306.69

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 (Dec'22)
Sr. No. Payer PSP Total Volume (In Mn) Approved % BD % TD %
1 Yes Bank Ltd 2,760.70 98.38% 1.61% 0.01%
2 Axis Bank Ltd 1,466.35 98.42% 1.57% 0.01%
3 ICICI Bank 1,252.92 98.51% 1.48% 0.01%
4 Paytm Payments Bank 1,078.75 98.31% 1.68% 0.01%
5 HDFC Bank Ltd 693.09 98.69% 1.30% 0.01%
6 State Bank Of India 613.07 98.22% 1.76% 0.01%
7 IDFC FIRST Bank 20.00 97.57% 2.42% 0.01%
8 Kotak Mahindra Bank 11.83 97.45% 2.55% 0.01%
9 Airtel Payments Bank 9.07 95.82% 4.12% 0.06%
10 India Post Payment Bank 5.67 97.99% 1.99% 0.02%
11 Federal Bank 4.73 97.70% 2.29% 0.01%
12 RBL Bank 1.70 98.09% 1.90% 0.01%
13 Jio Payments Bank 1.56 94.97% 4.74% 0.29%
14 IndusInd Bank 1.30 97.25% 1.44% 1.30%
15 Deutsche Bank 1.29 99.92% 0.08% 0.00%
UPI Payee PSP Performance (Dec'22)
Sr. No. Payee PSP Total Volume (In Mn) Approved % BD % TD %
1 Yes Bank Ltd 2,850.04 99.37% 0.44% 0.19%
2 Paytm Payments Bank 1,775.35 99.23% 0.75% 0.02%
3 Axis Bank Ltd 979.12 99.00% 0.92% 0.08%
4 ICICI Bank 898.83 99.03% 0.89% 0.08%
5 HDFC Bank Ltd 372.15 98.38% 1.46% 0.16%
6 State Bank Of India 370.13 99.17% 0.66% 0.17%
7 Federal Bank 116.45 99.68% 0.28% 0.04%
8 IndusInd Bank 30.84 96.01% 2.26% 1.72%
9 Kotak Mahindra Bank 20.39 99.05% 0.64% 0.31%
10 Airtel Payments Bank 19.83 98.14% 1.31% 0.55%
11 IDFC FIRST Bank 17.90 95.75% 2.97% 1.28%
12 Citibank 12.59 99.39% 0.60% 0.01%
13 Cosmos Bank 9.66 97.93% 1.55% 0.51%
14 Bank of Baroda 7.54 91.44% 6.09% 2.47%
15 Canara Bank 6.60 99.10% 0.57% 0.33%

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 - December 22
UPI Merchant Category-wise Classification - December'22
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
7299 Miscellaneous personal services not elsewhere classified
5541 Service stations (with or without ancillary services)
5814 Fast food restaurants
5816 Digital Goods – Games
5499 Miscellaneous food shops convenience and speciality retail outlets
5311 Department stores
5912 Drug stores and pharmacies
Medium Transacting Categories 5999 Miscellaneous and speciality retail outlets
5462 Bakeries
5399 Miscellaneous general merchandise
4900 Utilities - electric, gas, water and sanitary
7322 Debt collection agencies
5813 Drinking places (alcoholic beverages) - bars, taverns, night-clubs, cocktail lounges and discothèques
5451 Dairies
6540 Debit card to wallet credit (Wallet top up)
6012 Financial institutions - merchandise and services
5699 Miscellaneous apparel and accessory shops
All Other Categories 8999 Professional services not elsewhere classified
4899 Cable and other pay television services
9399 Government services - not elsewhere classified
6211 Securities - brokers and dealers
5422 Freezer and locker meat provisioners
4214 Motor freight carriers and trucking - local and long distance, moving and storage companies and local delivery
5732 Electronics shops
7399 Business services not elsewhere classified
7230 Beauty and barber 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