Indian Economy News

BHIM app records over 300% growth in transactions during FY26

The BHIM (Bharat Interface for Money) payments application recorded a more than 300% increase in transaction volumes during FY26, reflecting the rapid expansion of India’s digital payments ecosystem and growing adoption of Unified Payments Interface (UPI)-based transactions. According to the National Payments Corporation of India (NPCI), the app witnessed strong growth in user engagement, merchant adoption and transaction value during the year, supported by rising smartphone penetration and increasing digital financial inclusion. The strong growth momentum highlights the continued shift towards cashless transactions across urban and rural markets. BHIM has played a significant role in promoting interoperable digital payments by enabling seamless peer-to-peer and merchant transactions through UPI infrastructure. The growth in BHIM transactions also aligns with the government’s broader vision of strengthening digital public infrastructure and expanding access to secure and affordable digital payment solutions across the country.

India’s digital payments ecosystem has witnessed substantial expansion over the past few years, driven by rising internet connectivity, fintech innovation and supportive policy measures. UPI has emerged as one of the world’s largest real-time payment systems, processing billions of transactions every month and significantly improving financial accessibility. Increasing use of QR-code payments, merchant digitisation and integration of digital payment systems into everyday services have accelerated adoption among consumers and businesses. The continued growth of BHIM and UPI platforms is expected to strengthen India’s digital economy, improve transparency in financial transactions and support formalisation of the economy. Industry experts believe that rising digital payment penetration, combined with advancements in cybersecurity and digital banking infrastructure, will further enhance efficiency, convenience and financial inclusion across sectors while supporting India’s long-term economic and technology-driven growth objectives. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.