IMPS Product Statistics from 2014 to 2025

The data reveals remarkable growth in India’s digital payment infrastructure, with member banks expanding from just 59 in September 2013 to 945 by March 2025—a 16-fold increase that demonstrates widespread institutional adoption across the financial sector. This expansion created a comprehensive network effect that greatly enhanced the utility and accessibility of digital payments throughout the country. Transaction volumes show extraordinary growth, rising from just 1.02 million monthly transactions in September 2013 to 461.64 million in March 2025—a 452-fold increase. This growth trajectory wasn’t linear but featured periods of acceleration, particularly between 2016 and 2020, when digital payments gained mainstream acceptance. Transaction values grew correspondingly, from ₹552.75 crore to ₹6,67,812.82 crore—a 1,208-fold increase that significantly outpaced transaction volume growth, indicating higher value transactions over time. The data exhibits clear resilience during challenging periods. Notably, during the early COVID-19 pandemic (April 2020), there was a sharp but temporary decline in both volume (122.47 million) and value (₹1,21,140.79 crore), but the system quickly rebounded to exceed pre-pandemic levels by late 2020, demonstrating the essential nature digital payments had achieved in India’s economy. Seasonal patterns emerge in the data, with typically higher transaction volumes toward year-end periods (October-December), likely reflecting festival seasons and holiday-related spending. There’s also evidence of growing consumer comfort with larger digital transactions over time, as the implicit average transaction value increased steadily through the years. The sustained growth over more than a decade, even as the base grew larger, points to fundamental shifts in payment behaviours among Indians, moving from cash to digital methods. This transformation represents one of the most significant aspects of India’s broader financial inclusion and digitalisation journey, with this payment system serving as a critical infrastructure backbone supporting the country’s digital economy development.