Kochi: Kerala is witnessing a remarkable digital payments boom, with Unified Payments Interface (UPI) transactions surging to new heights. According to data from the National Payments Corporation of India (NPCI), the state recorded a staggering 444.9 million UPI transactions in November alone, underlining the rapid shift towards cashless payments.
The state is registering an impressive 29.6 percent annual growth in UPI transactions, while the total transaction value has risen by 28.6 percent to ₹59,793 crore. Individual usage is also on the rise, with average per capita UPI transactions increasing to 12.7 per month, up from 9.8 last year—clear evidence of UPI becoming an everyday payment choice for Keralites.
Experts attribute this surge to widespread smartphone adoption, strong acceptance of UPI among small and large merchants, and a growing preference for fast, cashless payment methods. Over the past three years, UPI has significantly reshaped daily financial transactions across the state.
Kerala’s digital momentum mirrors a nationwide trend. A report released by NPCI and the Boston Consulting Group at the Global Fintech Festival 2025 revealed that India now has 504 million UPI users, nearly half of the adult population, with around 65 million merchants accepting UPI. Notably, 84 percent of all digital retail payments in the country are processed through UPI.
Kerala contributes nearly 4 percent to India’s overall growth in UPI transactions and ranks between ninth and eleventh nationally in transaction growth. While states such as Maharashtra, Karnataka, Uttar Pradesh, and Tamil Nadu continue to lead the chart, Kerala’s rapid adoption signals a strong and sustained move towards a fully digital economy.
