UPI transactions moderate to ₹28.9 lakh crore in June after record high in May; daily average hits new peak

Transactions through the Unified Payments Interface (UPI) moderated in June after hitting a record high in the previous month, although daily transaction activity reached its highest-ever level, reflecting continued strength in India’s digital payments ecosystem. 

According to data released by the National Payments Corporation of India (NPCI) on Wednesday, UPI transactions stood at ₹28.9 lakh crore in June 2026, lower than the all-time high of ₹29.9 lakh crore recorded in May 2026. 

In volume terms, UPI processed 22.72 billion transactions during June, compared with 23.2 billion transactions in May. 

Despite the sequential moderation, transaction value registered strong annual growth. UPI transaction value rose nearly 20% year-on-year from ₹24.03 lakh crore in June 2025. 

Transaction volumes also continued to expand on an annual basis, increasing from 18.3 billion transactions in June 2025 to 22.72 billion in June this year. 

Industry executives said the June numbers continue to underline the growing centrality of UPI in everyday payments. 

Reeju Datta, Co-Founder of Cashfree Payments, said that while transaction volumes declined marginally month-on-month, June recorded the highest daily average since UPI’s launch. 

“While the UPI volume for June has decreased month-on-month, the month’s daily average of 757 million transactions is the highest-ever recorded since the launch of UPI. These daily averages tell a very interesting story of how UPI has become the default mode of payment for low-value transactions,” Datta said. 

Dilip Modi, CEO of Spice Money, said the June data highlights the pace at which India’s digital payments ecosystem has expanded over the past year. 

According to Modi, UPI volumes have increased by more than 4.3 billion transactions year-on-year, while transaction value has grown by nearly ₹5 lakh crore, indicating rising consumer trust and greater dependence on digital payment platforms. 

UPI has also expanded its international footprint and is currently operational across countries including United Arab Emirates, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius, and Qatar, supporting cross-border payment use cases and strengthening India’s global digital payments presence. 

NPCI, promoted by the Reserve Bank of India and the Indian Banks' Association, operates retail payment and settlement systems in the country and manages UPI, India’s flagship real-time payments platform used for peer-to-peer and merchant transactions.