The UPI Revolution in Mumbai: A New Yorker’s Take

So, what’s the buzz on the streets of Mumbai? If you’re talking payments, it’s all about the rise of UPI. And boy, it’s a game-changer.

Groceries and Supermarkets: The Big Winners

Let’s chat groceries. Their piece of the UPI pie jumped to 24.6% from last year’s 22.4%. What’s driving this? The quick commerce platforms are all the rage now. These guys are turning UPI into the go-to payment choice.

Not just spending more by volume, but value-wise, they’re up from 8.3% to 9.4%. This isn’t just shopping; it’s a lifestyle shift.

Dining Out: Eating Places and Fast Food Galore

Here’s where it gets delicious. Restaurants saw their UPI transactions bounce up nearly 35% year-over-year. Toss in your local fast food joints, and they make up almost a fifth of all UPI dealings. That’s some serious clout.

UPI isn’t just a payment method. It’s becoming synonymous with our little guilty pleasures.

Pharmacies and Everyday Essentials

Pharmacies held steady at a 2.5% share. But the transaction volume? It skyrocketed by nearly 38%. Online medicine delivery platforms are a big push here, making healthcare payments as easy as ordering a coffee.

The Numbers Game: UPI’s Growth Saga

By August 2025, UPI transactions hit a jaw-dropping 12.7 billion, up 36% from last year. The value of these payments climbed 26% to Rs 7.24 lakh crore.

Smaller ticket sizes mean people are buzzing with UPI for those everyday bits and bobs. It’s not just about big spends anymore.

Where Investment Takes a Backseat

Let’s pivot to the finance folks. Securities brokers are feeling the pinch. Their value share skidded from 10.2% last year to 6.3%. We’re talking a drop from Rs 58,000 crore to Rs 46,000 crore. Blame it on new rules around UPI for secondary market trades and F&O transactions.

Debt collectors, too, are seeing their slice shrink to 10.6% from 12%. Yet, they collected Rs 77,000 crore, up from Rs 69,000 crore last year. Quite the conundrum.

Telecom and Fuel: The Shifting Dynamics

The telecom scene isn’t buzzing as much. Their share fell from 8.5% to 6.8%, as folks just aren’t rushing to recharge. On the other hand, fuel stations are inching up. From 4.5% to 4.8% in value share, thanks to steady mobility demands.

Everything Else: The Expanding “Others”

Here’s a kicker: the “others” category shot up to 42.7% of value from 39% last year. This isn’t just growth; it’s UPI weaving its way into all sorts of uncharted merchant territories.

Conclusion: UPI’s Evolving Landscape

In a city that’s always moving, UPI’s real momentum is in daily essentials like groceries, food, and meds. Meanwhile, sectors tied to investments and lending are adapting to the ever-changing playbook.

Catch the latest buzz on UPI and more from the National Payments Corporation of India and keep up with Economic Times for all things finance.

Stay tuned, because with UPI, there’s no telling where we’re heading next. It’s a whole new world of payments out there, and Mumbai’s leading the charge.