UPI transactions cross 25-billion mark for first time in October; value touches ₹31.53 lakh crore
ADVERTISEMENT
India's Unified Payments Interface (UPI) recorded its highest-ever monthly transaction volume in October, crossing the 25-billion mark for the first time, as festive-season spending and increasing adoption of digital payments lifted activity across the country's retail payments ecosystem.
UPI processed 25.47 billion transactions worth ₹31.53 lakh crore in October 2026. Transaction volumes increased 23% year-on-year and 5.8% month-on-month, compared with 24.07 billion transactions in September.
In value terms, UPI transactions grew 16% from ₹27.18 lakh crore in October 2025. On a sequential basis, the transaction value increased 7.4% from ₹29.37 lakh crore in September. October also marked the first time that the monthly transaction value crossed ₹30 lakh crore.
Average daily transactions cross ₹1 lakh crore
The growth was also reflected in UPI's daily transaction averages. The platform processed an average of 822 million transactions per day in October, compared with 802 million in September, representing a 2.5% increase.
More significantly, the average daily transaction value crossed ₹1 lakh crore for the first time, reaching ₹1,01,707 crore during the month. This was 3.9% higher than the average daily transaction value of ₹97,913 crore recorded in September.
The latest figures underline the growing scale of UPI as a preferred payment mechanism for both consumers and merchants, covering everything from small-value neighbourhood purchases to larger online and offline transactions.
Festive demand lifts digital payment activity
The October performance comes amid heightened consumer spending during the festive season, when purchases across categories such as consumer electronics, automobiles, apparel and online retail typically gather momentum.
UPI transaction volumes have maintained an upward trajectory in recent months. Volumes stood at 23.66 billion in July, increased to 24.51 billion in August, moderated to 24.07 billion in September and subsequently climbed to 25.47 billion in October.
The latest numbers also come against the backdrop of a debate over the proposed merchant discount rate (MDR) framework for select UPI transactions. NPCI had deferred its implementation, originally scheduled for October 15, until after Diwali, citing the festive season. The revised implementation date is yet to be communicated.