UPI in Nov: Broker value falls 25% as spending softens across merchant categories
09 Dec 2025, 02:13 PMCredit card bill payments via UPI during the month was at Rs 86,990.51 crore across 58.15 million transactions.
Team Head&Tale
Share the story on
The value of securities brokers and dealer transactions via the unified payments interface (UPI) declined over 25% to Rs 49,218.88 crore in November as compared to Rs 66,095.52 in the previous month.
The overall value of the merchant category-wise purchases via UPI fell to Rs 7.64 lakh crore in November across 12,840.49 million transactions as compared to Rs 8.25 lakh crore in October across 13,027.56 million transactions, according to data released by National Payments Corporation of India (NPCI).
Groceries and supermarkets, which accounts for the largest share, recorded over 3,222.99 million transactions worth Rs 71,129.56 crore in November versus 3,273.2 million transactions worth Rs 76,073.21 crore in the previous month.
The value of debt collections via the UPI rose to Rs 51,892.29 crore in November from Rs 50,614.85 crore in October. In September the value of debt collections had dropped to its lowest to Rs 48,457.21 crore since June 2023.
Digital gold purchase via the UPI fell to Rs 1,215.36 crore in November as compared to Rs 2,290.36 crore in the previous month. The value of digital gold purchase via UPI had jumped 60% in October helped by the festive season.
Credit card bill payments via UPI during the month was at Rs 86,990.51 crore across 58.15 million transactions.
Men's, womens and childrens uniforms and commercial clothing saw 83.58 million transactions worth Rs 8,856.67 crore versus 89.1 million worth Rs 10,082.93 crore in October; and family clothing shops category witnessed transactions 72.24 million worth Rs 6,289.44 crore against 72.7 million worth Rs 6,713.91 crore in October.
Volume and value both dropped for online marketplaces during the month. Online marketplaces witnessed 109.61 million transactions worth Rs 7,205.27 crore via UPI payments during the month as compared to 126.2 million transactions worth Rs 8,350 crore.
Fast food restaurants recorded 1,406.70 million transactions worth Rs 16,149.43 crore in November; and eating places and restaurants saw 1,202.63 million UPI transactions worth Rs 19,547.09 crore.
Service stations registered 657.73 million transactions worth Rs 40,320.95 crore across during the month; utilities recorded 156.34 million transactions worth Rs 22,449.16 crore; and telecommunications logged 817.83 million transactions worth Rs 21,399.70 crore.
Electronic shops saw 77.95 million transactions worth Rs 9,681.18 crore in November. Government services category recorded 108.89 million UPI transactions worth Rs 9,017.18 crore.
Drug stores and pharmacies recorded 322.70 million transactions worth Rs 12,583.01 crore in November.
Overall UPI volumes for the month of November was at 20.46 billion transactions worth Rs 26.31 lakh crore, with peer-to-peer (P2P) payments accounting for 7,626.49 million transactions valued at Rs 18.67 lakh crore.
Who Reads Us
“I enjoy reading The Head and Tale for their coverage on the Fintech landscape. The reporting is incisive and honest, and it demonstrates a sharp understanding of the industry and the issues that concern it. I'd like to extend my best wishes to Arti for her continued success.”
“Well-researched, informative and analysis based reporting makes an interesting read. 'The Head and Tale' news portal has been demonstrating this quite well covering fintech and emerging tech sectors. Their timely updates, exclusive stories and different perspectives on these sectors help me stay informed. Kudos to Arti Singh for pursuing her passion and best wishes to the team.”
“The Head and Tale stands out for its deep industry knowledge and impressive network of sources. I especially appreciate that the reporting remains independent, rarely resorting to paid puff pieces, making it a publication I can genuinely trust. Having followed Arti’s work for years, I’ve come to rely on The Head and Tale for its unparalleled insight and truly independent coverage. Arti’s long-standing presence in the sector means her reporting is always informed, with access few can match.”
“What I really appreciate about The Head and Tale is that it doesn’t just report the news, it interprets it. The stories are well-researched, comprehensive, and bold. Arti brings a fearless lens to reporting, often asking the uncomfortable but necessary questions. She makes you pause, reflect, and rethink what it all means for the payments and fintech ecosystem. It’s rare to find journalism that’s this sharp, timely, and relevant to the work we do every day.”
“I’ve always valued journalism that goes beyond surface-level headlines. The Head and Tale does exactly that - it connects the dots, asks the tough questions, and brings clarity to the shifts shaping our evolving industry. I’ve even encouraged my team members to subscribe, because staying informed through credible, deeply reported stories is as important as building products. For me, The Head and Tale has become part of essential reading.”
Related News