New Delhi New Delhi: The government on Friday said the number of digital payment transactions in India is projected to grow from 2,071 crore in FY 2017-18 to 18,737 crore in FY 2023-24, at a compound annual growth rate (CAGR) of 44 per cent. Further, as per Finance Ministry data, the transaction volume has reached 8,659 crore during the last five months (April-August) of the current FY 2024-25. The transaction value has grown from Rs 1,962 lakh crore to Rs 3,659 lakh crore in FY24, at a CAGR of 11 per cent. Additionally, in the last 5 months of FY25, the total transaction value has grown to Rs 1,669 lakh crore, as per the Department of Financial Services (DFS) under the ministry.

Meanwhile, UPI transaction volume grew from 92 crores in FY17-18 to 13,116 crores in FY23-24, a CAGR of 129 percent. The value of UPI transactions grew from Rs 1 lakh crore in FY17-18 to Rs 200 lakh crore in FY23-24, a CAGR growth of 138 percent. In the last 5 months, the total transaction value has grown to Rs 101 lakh crore. UPI now facilitates seamless live transactions in seven countries, including key markets such as UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius.