Asia-Pacific · GDP rank #5
India
IN · INR @ 0.0104/USD
The single most important instant-payments story in the world. UPI cleared 22.35 billion transactions and ₹29 lakh crore (~US$340bn) in April 2026 alone, a +25% YoY expansion. The policy architecture (UPI + RuPay + Aadhaar-eKYC + Account Aggregator + ONDC) is the de facto reference stack for emerging-market digital finance. India is one of five founding IPSs inside BIS Project Nexus.
Tab 02
Consumer payments
How consumers actually pay: the share of cash, the stock and flow of cards, the scheme split at checkout, which mobile wallets matter, and how broadly POS acceptance reaches.
Every figure is authored against a named publisher — click the ⓘ anywhere to open the source panel with the underlying URL and access date.
Cash share of POS volume
% · 2024
Debit card share
% · 2024
Debit-card POS flat/declining since 2022 as UPI substitutes.
Credit card share
% · 2024
Mobile wallet share
% · 2024
Separate from UPI; PPI-wallet volume has shrunk as UPI substitutes.
Payment mix
At the point of sale
The shares below are POS volume (count of transactions), which reads differently from POS value. For the value-share read, see the card-economy grid underneath.
Share of POS
- Cash17%
- Credit card1%
- Debit card2%
- Instant / A2A79%
- Mobile wallet1%
- BNPL3%
- Other−3%
Cash behaviour
- ATM network
- 218,000
- Avg. ATM withdrawal
- ₹4,280
- Cash share · value
- ~12%
- Cash share · volume
- 17%
Source · RBI
Scheme share
Which networks clear the card volume
Scheme share is the split of general-purpose card purchase volume — not issuance, not count of cards. A high domestic share (e.g. UnionPay, RuPay, ELO) means a large share of card flow never touches a global scheme.
Concentration is in credit; debit has shifted materially to RuPay since 2020.
Share of card volume
- Visa~35%
- Mastercard~25%
- Amex2%
- Other<1%
- Domestic Scheme~38%
Debit card transactions (POS + e-comm)
transactions/year · FY2025
Debit POS in steady decline as UPI substitutes.
Debit card spend
INR annual · FY2025
Credit card transactions
transactions/year · FY2025
Credit card spend
INR annual · FY2025
Average debit ticket
INR · FY2025
Average credit ticket
INR · FY2025
Mobile wallets
Where wallets actually land
User counts are the best single scalar for wallet reach, but they understate usage intensity in markets where one super-app carries multi-digit trillions of renminbi or rupees. For flow, see the rails tab.
Active users
- PhonePe520M+
2024
- Google Pay~230M
2024
- Paytm~75M
2024
- BHIM (bank-consortium)~25M
2024
Notable wallets
PhonePe
Leading UPI app by volume (~47% of UPI transactions).
PhonePe / Walmart disclosures
Google Pay
NPCI / industry estimates
Paytm
One97 Communications (Paytm) investor filings
BHIM (bank-consortium)
NPCI
Full reference