YES BANK Emerges as Digital Banking Leader with 55.3% Share in UPI Transactions
Ajay Rajan, Country Head – Transaction Banking, Government, MNC & New Economy Business, IBU & Knowledge Units, YES BANK
Mumbai, August 16: YES BANK, India’s sixth-largest private sector lender, has consolidated its position as a frontrunner in digital banking by commanding 55.3% market share as a payee PSP in UPI transactions during Q1 FY26. The bank also secured a 33.3% share as a payer PSP, reinforcing its dominance in India’s fast-growing digital payments ecosystem.
YES BANK has further strengthened its digital footprint by topping the Aadhaar-enabled Payment System (AePS) with nearly 30% of transactions across a partner network of over 7.9 lakh outlets nationwide, in addition to holding a 24% share in NEFT transactions.
Driven by a digital-first strategy, the bank has integrated over 1,500 APIs for real-time operations, enabling seamless customer journeys. Currently, 92% of individual savings accounts, 93% of current accounts, and 98% of credit cards are opened digitally through its IRIS and IRIS BIZ super apps.
The bank is also playing a crucial role in advancing India’s Digital Public Infrastructure, contributing to initiatives such as Central Bank Digital Currency (CBDC), Open Credit Enablement Network (OCEN), Open Network for Digital Commerce (ONDC), and embedded finance. Its customer-centric innovations include the ‘Deliver the Bank’ program, aimed at extending financial access to underserved segments.
Ajay Rajan, Country Head – Transaction Banking, Government, MNC & New Economy Business, IBU & Knowledge Units, YES BANK, said: “Financial inclusion for all and building resilience in Indian banking has been part of our larger vision. The scale our digital platforms have achieved are proof of this shift. We are proud to participate and lead the digital transformation of Indian banking by combining innovation with digital infrastructure and tech tools, which enables financial access across the country.”
With a focus on personalisation, seamless experiences, and tech-enabled financial solutions, YES BANK said it will continue to strengthen its role as a key driver of India’s digital economy.
