UPI Surges 34%, India Crosses 709 Million QR Codes in Q3: Worldline India

• UPI transaction volumes soared 34% year-on-year in Q3, reaching 59.33 billion transactions.
• India's active QR code network expanded to 709 million, a 21% increase, driving digital payments.
• Person-to-merchant payments fueled growth, with average UPI ticket size declining to ₹1,262, indicating increased low-value usage.
• Physical PoS terminals grew 35% to 12.12 million, while credit card issuance rose 35% to 113.39 million.
• Debit card usage declined 25% as smaller payments shifted to UPI, highlighting its dominance in everyday transactions.

Why It Matters: India's digital payments, led by UPI and QR codes, show robust growth, especially for low-value transactions.