India's Digital Payments Soar 11x in 4 Years; UPI Dominates with 80% Share

• Digital transactions in India surged 11 times between 2021 and 2025, driven by UPI.
• UPI accounts for 80% of all digital transactions, preferred by 57% over cash.
• Government incentives for RuPay and BHIM-UPI boosted adoption and financial inclusion.
• 94% of small merchants now accept UPI, with 72% satisfied due to faster transactions and increased sales.
• Digital payment infrastructure expanded significantly, with UPI QR codes growing from 9.3 crore to 65.8 crore.