RuPay network is driving growth in digital payments says NPCI

Ayesha Agrawal

01 Mar 2025 — 3 min read

RuPay accounts 16% of UPI transactions, NPCI to set-up new R&D centers

RuPay network accounts for nearly 16% of India's credit card spendings, driven by UPI linked credit cards.
Over 30 banks issue RuPay credit cards leading to a significant increasae in transactions.
The NPCI initiates to take indian payments global by setting up new R&D center to drive innovation.
RuPay credit cards holds more than 750 million transactions in the ongoing fiscal year, October 2024.
In June 2022, the Reserve Bank Of India has approved the integration of UPI with RuPay credit cards.

Mumbai: In a statement at the Mumbai Tech week, Managing Director of NPCI, Dilip Asbe noted that RuPay card network holds nearly 16% of India's credit card spending and almost half of these transactions are based on UPI. Furthermore he added, over 30 banks issue RuPay credit card that leads to a significant drift in the transaction rate. RuPay network is said to as India's indigenous payment network that runs on National Payments Corporation of India (NPCI).

"Almost 16% of the total credit card spendings are taking place on RuPay credit card network and 50% of them are UPI based. 30+ banks in the country are issuing RuPay credit cards, leading a rise in the transaction rate," says NPCI chief Dilip Asbe.

A latest report published by the Ministry of Finance highlights that more than 750 million transactions that amounts to nearly INR 63,825.8 crore are concerned with RuPay credit cards as recorded in the ongoing fiscal year, October 2024 (FY2025). Where as in the last fiscal year, a total of 362.8 million transactions were recorded that amounted to INR 33,439.2 Crore.

The NPCI is expanding its influence with new R&D centers, globalizing UPI transactions.

In the Meantime, NPCI is taking initiatives to present Indian payments on a global level by setting up new R&D center spanning over five lakh square feet in Mumbai at the Bandra-Kurla Complex, facilitating nearly 5,000 people capacity. The Mumbai Metropolitan Region Development Authority (MMRDA) is involved in allocating land to NPCI for the establishment of these centers.

"We are aiming to establish about 5,000-people Capacity R&D and Experience Centre. In the last 4 to 5 years, almost 70 countries had their visit at the NPCI office," says Dilip Asbe.

NPCI is looking forward to introduce UPI with geographies related to Indian tourists, such as Thailand, Qatar and Southeast Asia. Currently, UPI payments are accepted in several countries including Nepal, Singapore, Bhutan, Sri Lanka, France and Mauritius.

About RuPay

RuPay is an Indian multinational financial services and payment service system that allows users to make electronic payments. Launched in the year 2012, RuPay is conceived and owned by The National Payments Corporation of India(NPCI). In June 2022, the Reserve Bank Of India(RBI) has approved the integration of UPI with RuPay credit cards with a vision of establishing a domestic and open multilateral system of payments. RuPay provides seamless electronic payments covering almost all Indian Banks.