PUBLISHER: TechNavio | PRODUCT CODE: 1908440
PUBLISHER: TechNavio | PRODUCT CODE: 1908440
Unified Payments Interface (Upi) Market In India 2026-2030
The unified payments interface (upi) market in india is forecasted to grow by USD 87546.5 mn during 2025-2030, accelerating at a CAGR of 46.0% during the forecast period. The report on the unified payments interface (upi) market in india provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by governmental push for digitization, continuous technological evolution and international expansion, pervasive merchant acceptance and deepening commercial integration.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market size data, segment with regional analysis and vendor landscape in addition to an analysis of the key companies. Reports have historic and forecast data.
| Market Scope | |
|---|---|
| Base Year | 2026 |
| End Year | 2030 |
| Series Year | 2026-2030 |
| Growth Momentum | Accelerate |
| YOY 2026 | 33.8% |
| CAGR | 46% |
| Incremental Value | $87546.5 mn |
Technavio's unified payments interface (upi) market in india is segmented as below:
By Application
- Money transfers
- Bill payments
- Point of sale
- Others
By Type
- P2P
- P2M
By Technology
- UPI version 1
- UPI version 2
- UPI lite
- UPI for feature phones
- Cross-border UPI
Geography
- APAC
- India
This study identifies the convergence of payments and credit as one of the prime reasons driving the unified payments interface (upi) market in india growth during the next few years. Also, internationalization and cross-border interoperability and deepening integration into specialized verticals and enterprise solutions will lead to sizable demand in the market.
The report on the unified payments interface (upi) market in india covers the following areas:
- Unified payments interface (upi) market in india sizing
- Unified payments interface (upi) market in india forecast
- Unified payments interface (upi) market in india industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading unified payments interface (upi) market in india vendors that include Amazon.com Inc., Amica Financial Technologies, Axis Bank Ltd., Dreamplug Technologies, Google LLC, HDFC Bank Ltd., ICICI Bank Ltd., Infibeam Avenues Ltd., Meta Platforms Inc., One MobiKwik System Pvt. Ltd., One97 Communications Ltd., Pay U, PhonePe Pvt. Ltd., Razorpay Software Pvt. Ltd., State Bank of India, Yes Bank Ltd.. Also, the unified payments interface (upi) market in india analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.
Table of Contents
1 Executive Summary
- 1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Country Market Characteristics
- Executive Summary - Chart on Market Segmentation by Application
- Executive Summary - Chart on Market Segmentation by Type
- Executive Summary - Chart on Market Segmentation by Technology
- Executive Summary - Chart on Company Market Positioning
2 Technavio Analysis
- 2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- 2.2 Criticality of inputs and Factors of differentiation
- Overview on criticality of inputs and factors of differentiation
- 2.3 Factors of disruption
- Overview on factors of disruption
- 2.4 Impact of drivers and challenges
- Impact of drivers and challenges in 2025 and 2030
3 Market Landscape
- 3.1 Market ecosystem
- Chart on Parent Market
- Data Table on - Parent Market
- 3.2 Market characteristics
- Chart on Market characteristics analysis
- 3.3 Value chain analysis
- Chart on Value chain analysis
4 Market Sizing
- 4.1 Market definition
- Data Table on Offerings of companies included in the market definition
- 4.2 Market segment analysis
- Market segments
- 4.3 Market size 2025
- 4.4 Market outlook: Forecast for 2025-2030
- Chart on India - Market size and forecast 2025-2030 ($ million)
- Data Table on India - Market size and forecast 2025-2030 ($ million)
- Chart on India: Year-over-year growth 2025-2030 (%)
- Data Table on India: Year-over-year growth 2025-2030 (%)
5 Historic Market Size
- 5.1 Unified Payments Interface (UPI) Market in India 2020 - 2024
- Historic Market Size - Data Table on Unified Payments Interface (UPI) Market in India 2020 - 2024 ($ million)
- 5.2 Application segment analysis 2020 - 2024
- Historic Market Size - Application Segment 2020 - 2024 ($ million)
- 5.3 Type segment analysis 2020 - 2024
- Historic Market Size - Type Segment 2020 - 2024 ($ million)
- 5.4 Technology segment analysis 2020 - 2024
- Historic Market Size - Technology Segment 2020 - 2024 ($ million)
6 Qualitative Analysis
- 6.1 The AI impact on Unified Payments Interface (UPI) Market in India
7 Five Forces Analysis
- 7.1 Five forces summary
- Five forces analysis - Comparison between 2025 and 2030
- 7.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2025 and 2030
- 7.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2025 and 2030
- 7.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2025 and 2030
- 7.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2025 and 2030
- 7.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2025 and 2030
- 7.7 Market condition
- Chart on Market condition - Five forces 2025 and 2030
8 Market Segmentation by Application
- 8.1 Market segments
- Chart on Application - Market share 2025-2030 (%)
- Data Table on Application - Market share 2025-2030 (%)
- 8.2 Comparison by Application
- Chart on Comparison by Application
- Data Table on Comparison by Application
- 8.3 Money transfers - Market size and forecast 2025-2030
- Chart on Money transfers - Market size and forecast 2025-2030 ($ million)
- Data Table on Money transfers - Market size and forecast 2025-2030 ($ million)
- Chart on Money transfers - Year-over-year growth 2025-2030 (%)
- Data Table on Money transfers - Year-over-year growth 2025-2030 (%)
- 8.4 Bill payments - Market size and forecast 2025-2030
- Chart on Bill payments - Market size and forecast 2025-2030 ($ million)
- Data Table on Bill payments - Market size and forecast 2025-2030 ($ million)
- Chart on Bill payments - Year-over-year growth 2025-2030 (%)
- Data Table on Bill payments - Year-over-year growth 2025-2030 (%)
- 8.5 Point of sale - Market size and forecast 2025-2030
- Chart on Point of sale - Market size and forecast 2025-2030 ($ million)
- Data Table on Point of sale - Market size and forecast 2025-2030 ($ million)
- Chart on Point of sale - Year-over-year growth 2025-2030 (%)
- Data Table on Point of sale - Year-over-year growth 2025-2030 (%)
- 8.6 Others - Market size and forecast 2025-2030
- Chart on Others - Market size and forecast 2025-2030 ($ million)
- Data Table on Others - Market size and forecast 2025-2030 ($ million)
- Chart on Others - Year-over-year growth 2025-2030 (%)
- Data Table on Others - Year-over-year growth 2025-2030 (%)
- 8.7 Market opportunity by Application
- Market opportunity by Application ($ million)
- Data Table on Market opportunity by Application ($ million)
9 Market Segmentation by Type
- 9.1 Market segments
- Chart on Type - Market share 2025-2030 (%)
- Data Table on Type - Market share 2025-2030 (%)
- 9.2 Comparison by Type
- Chart on Comparison by Type
- Data Table on Comparison by Type
- 9.3 P2P - Market size and forecast 2025-2030
- Chart on P2P - Market size and forecast 2025-2030 ($ million)
- Data Table on P2P - Market size and forecast 2025-2030 ($ million)
- Chart on P2P - Year-over-year growth 2025-2030 (%)
- Data Table on P2P - Year-over-year growth 2025-2030 (%)
- 9.4 P2M - Market size and forecast 2025-2030
- Chart on P2M - Market size and forecast 2025-2030 ($ million)
- Data Table on P2M - Market size and forecast 2025-2030 ($ million)
- Chart on P2M - Year-over-year growth 2025-2030 (%)
- Data Table on P2M - Year-over-year growth 2025-2030 (%)
- 9.5 Market opportunity by Type
- Market opportunity by Type ($ million)
- Data Table on Market opportunity by Type ($ million)
10 Market Segmentation by Technology
- 10.1 Market segments
- Chart on Technology - Market share 2025-2030 (%)
- Data Table on Technology - Market share 2025-2030 (%)
- 10.2 Comparison by Technology
- Chart on Comparison by Technology
- Data Table on Comparison by Technology
- 10.3 UPI version 1 - Market size and forecast 2025-2030
- Chart on UPI version 1 - Market size and forecast 2025-2030 ($ million)
- Data Table on UPI version 1 - Market size and forecast 2025-2030 ($ million)
- Chart on UPI version 1 - Year-over-year growth 2025-2030 (%)
- Data Table on UPI version 1 - Year-over-year growth 2025-2030 (%)
- 10.4 UPI version 2 - Market size and forecast 2025-2030
- Chart on UPI version 2 - Market size and forecast 2025-2030 ($ million)
- Data Table on UPI version 2 - Market size and forecast 2025-2030 ($ million)
- Chart on UPI version 2 - Year-over-year growth 2025-2030 (%)
- Data Table on UPI version 2 - Year-over-year growth 2025-2030 (%)
- 10.5 UPI lite - Market size and forecast 2025-2030
- Chart on UPI lite - Market size and forecast 2025-2030 ($ million)
- Data Table on UPI lite - Market size and forecast 2025-2030 ($ million)
- Chart on UPI lite - Year-over-year growth 2025-2030 (%)
- Data Table on UPI lite - Year-over-year growth 2025-2030 (%)
- 10.6 UPI for feature phones - Market size and forecast 2025-2030
- Chart on UPI for feature phones - Market size and forecast 2025-2030 ($ million)
- Data Table on UPI for feature phones - Market size and forecast 2025-2030 ($ million)
- Chart on UPI for feature phones - Year-over-year growth 2025-2030 (%)
- Data Table on UPI for feature phones - Year-over-year growth 2025-2030 (%)
- 10.7 Cross-border UPI - Market size and forecast 2025-2030
- Chart on Cross-border UPI - Market size and forecast 2025-2030 ($ million)
- Data Table on Cross-border UPI - Market size and forecast 2025-2030 ($ million)
- Chart on Cross-border UPI - Year-over-year growth 2025-2030 (%)
- Data Table on Cross-border UPI - Year-over-year growth 2025-2030 (%)
- 10.8 Market opportunity by Technology
- Market opportunity by Technology ($ million)
- Data Table on Market opportunity by Technology ($ million)
11 Customer Landscape
- 11.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
12 Drivers, Challenges, and Opportunity
- 12.1 Market drivers
- Governmental push for digitization
- Continuous technological evolution and international expansion
- Pervasive merchant acceptance and deepening commercial integration
- 12.2 Market challenges
- Systemic risk and infrastructure scalability
- Bridging rural-urban divide and overcoming digital literacy barriers
- Sophistication of fraud and cybersecurity vulnerabilities
- 12.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2025 and 2030
- 12.4 Market opportunities
- Convergence of payments and credit
- Internationalization and cross-border interoperability
- Deepening integration into specialized verticals and enterprise solutions
13 Competitive Landscape
- 13.1 Overview
- 13.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
- 13.3 Landscape disruption
- Overview on factors of disruption
- 13.4 Industry risks
- Impact of key risks on business
14 Competitive Analysis
- 14.1 Companies profiled
- Companies covered
- 14.2 Company ranking index
- Company ranking index
- 14.3 Market positioning of companies
- Matrix on companies position and classification
- 14.4 Amazon.com Inc.
- Amazon.com Inc. - Overview
- Amazon.com Inc. - Business segments
- Amazon.com Inc. - Key news
- Amazon.com Inc. - Key offerings
- Amazon.com Inc. - Segment focus
- SWOT
- 14.5 Amica Financial Technologies
- Amica Financial Technologies - Overview
- Amica Financial Technologies - Product / Service
- Amica Financial Technologies - Key offerings
- SWOT
- 14.6 Axis Bank Ltd.
- Axis Bank Ltd. - Overview
- Axis Bank Ltd. - Business segments
- Axis Bank Ltd. - Key offerings
- Axis Bank Ltd. - Segment focus
- SWOT
- 14.7 Dreamplug Technologies
- Dreamplug Technologies - Overview
- Dreamplug Technologies - Product / Service
- Dreamplug Technologies - Key offerings
- SWOT
- 14.8 Google LLC
- Google LLC - Overview
- Google LLC - Product / Service
- Google LLC - Key offerings
- SWOT
- 14.9 HDFC Bank Ltd.
- HDFC Bank Ltd. - Overview
- HDFC Bank Ltd. - Business segments
- HDFC Bank Ltd. - Key offerings
- HDFC Bank Ltd. - Segment focus
- SWOT
- 14.10 ICICI Bank Ltd.
- ICICI Bank Ltd. - Overview
- ICICI Bank Ltd. - Business segments
- ICICI Bank Ltd. - Key offerings
- ICICI Bank Ltd. - Segment focus
- SWOT
- 14.11 Infibeam Avenues Ltd.
- Infibeam Avenues Ltd. - Overview
- Infibeam Avenues Ltd. - Product / Service
- Infibeam Avenues Ltd. - Key offerings
- SWOT
- 14.12 Meta Platforms Inc.
- Meta Platforms Inc. - Overview
- Meta Platforms Inc. - Business segments
- Meta Platforms Inc. - Key offerings
- Meta Platforms Inc. - Segment focus
- SWOT
- 14.13 One MobiKwik System Pvt. Ltd.
- One MobiKwik System Pvt. Ltd. - Overview
- One MobiKwik System Pvt. Ltd. - Product / Service
- One MobiKwik System Pvt. Ltd. - Key offerings
- SWOT
- 14.14 One97 Communications Ltd.
- One97 Communications Ltd. - Overview
- One97 Communications Ltd. - Product / Service
- One97 Communications Ltd. - Key offerings
- SWOT
- 14.15 Pay U
- Pay U - Overview
- Pay U - Product / Service
- Pay U - Key offerings
- SWOT
- 14.16 PhonePe Pvt. Ltd.
- PhonePe Pvt. Ltd. - Overview
- PhonePe Pvt. Ltd. - Product / Service
- PhonePe Pvt. Ltd. - Key offerings
- SWOT
- 14.17 Razorpay Software Pvt. Ltd.
- Razorpay Software Pvt. Ltd. - Overview
- Razorpay Software Pvt. Ltd. - Product / Service
- Razorpay Software Pvt. Ltd. - Key offerings
- SWOT
- 14.18 State Bank of India
- State Bank of India - Overview
- State Bank of India - Business segments
- State Bank of India - Key offerings
- State Bank of India - Segment focus
- SWOT
15 Appendix
- 15.1 Scope of the report
- Market definition
- Objectives
- Notes and caveats
- 15.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
- 15.3 Currency conversion rates for US$
- Currency conversion rates for US$
- 15.4 Research methodology
- Research methodology
- 15.5 Data procurement
- Information sources
- 15.6 Data validation
- Data validation
- 15.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
- 15.8 Data synthesis
- Data synthesis
- 15.9 360 degree market analysis
- 360 degree market analysis
- 15.10 List of abbreviations
- List of abbreviations
