In today’s edition of our monthly Digital Payments track, we cover the key highlights for the month of Apr’26. We hope you enjoy reading this document and find it valuable.
In Apr'26, India's digital retail transactions reached INR 95.2T, reflecting a seasonal normalisation from the elevated INR 109.1T recorded in Mar'26, a month typically marked by advance tax payments, financial year-end settlements, and bulk institutional transfers. On a Y-o-Y basis, transactions grew ~15% from INR 82.6T in Apr'25, affirming the underlying growth trajectory. NEFT continued to dominate the payment landscape, accounting for 46.5% of all non-cash retail transaction value. Other payment modes like UPI (30.5%), CTS (7.3%), and IMPS (7.4%) maintained their positions in the digital payment ecosystem, collectively representing India's accelerating transition to digital financial transactions.
In Mar’26, India's UPI processed 22.3B transactions, averaging approximately 743M transactions per day. This represents a decrease of ~2% from Mar’s 20.6B transactions. The total transaction value for Apr’26 was INR 29.0T, which also showed a decrease of ~1% since Mar’26. UPI transactions showed a 25% Y-o-Y increase in volume and a 21% rise in value compared to Apr’25.
The National Payments Corporation of India (NPCI) has officially partnered with ACLEDA Bank to launch Unified Payments Interface (UPI) acceptance in Cambodia. According to the Ministry of Finance, the initial phase allows Indian travellers to make seamless QR payments at over 4.5M Cambodian merchants. This payment corridor will subsequently become fully bi-directional, enabling Cambodian citizens visiting India to use their domestic digital payment apps to scan UPI QR codes nationwide. This milestone further expands India's global digital payment footprint, as UPI is already accepted in eight other nations including Singapore, the United Arab Emirates, France, Mauritius, Nepal, Bhutan, Qatar, and Sri Lanka.