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UPI sets new monthly record with 21.7 Bn transactions in January

EntrackrEntrackr · 2d ago
UPI sets new monthly record with 21.7 Bn transactions in January
Medial

UPI sets new monthly record with 21.7 Bn transactions in January On a year-on-year basis, UPI transaction volumes grew 28% in January, while transaction value increased 21% YoY. In value terms, UPI transactions stood at Rs 28.33 lakh crore. Unified Payments Interface (UPI) sustained its growth momentum in January 2026 and recorded 21.7 billion transactions, compared to 21.63 billion transactions in December 2025, according to data released by the National Payments Corporation of India (NPCI). On a year-on-year basis, UPI transaction volumes grew 28% in January, while transaction value increased 21% YoY. In value terms, UPI transactions stood at Rs 28.33 lakh crore, compared to Rs 27.97 lakh crore in December. The average daily transaction count was 700 million, versus 698 million in the previous month, while the average daily transaction value reached Rs 91,403 crore, compared to Rs 90,217 crore in December. For comparison, UPI had processed 20.47 billion transactions worth Rs 26.32 lakh crore in November 2025. While NPCI is yet to release app-wise data for January 2026, December figures show that PhonePe led the ecosystem with 9.81 billion transactions, accounting for around 45% of total volumes and nearly 49% of transaction value. Google Pay followed with 7.5 billion transactions, while Paytm ranked third with 1.65 billion transactions. Other players such as Navi, super.money and the government-backed BHIM app also contributed, with BHIM overtaking CRED in transaction volumes during the month. Beyond India, UPI continues to expand internationally. The payments system is already live in markets such as Singapore, the UAE, Nepal, Bhutan, Sri Lanka, Mauritius and France, while NPCI works on further expansion to countries including the UK, Australia and select regions in Southeast Asia and the Middle East.

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UPI sets new record with more than 15 Bn transactions in Sept

EntrackrEntrackr · 1y ago
UPI sets new record with more than 15 Bn transactions in Sept
Medial

Unified Payments Interface (UPI) has achieved a significant milestone by processing over 15 billion transactions in a month for the first time in September. Data published by the National Payments Corporation of India (NPCI) indicates that UPI recorded 15.04 billion transactions valued at Rs 20.64 lakh crore or Rs 20.64 trillion. In August, the number of transactions stood at 14.96 billion, amounting to Rs 20,60,735.57 crore. This reflects a 0.5% month-on-month growth and a 42% year-on-year increase. Notably, UPI surpassed the 10 billion transaction mark for the first time in August of last year. As a result, average daily transactions have also exceeded 500 million. According to UPI data analyzed by Entrackr, UPI reached 500 million daily transactions for the first time on July 2, 2024. While the app-wise breakdown data is yet to be published by NPCI, PhonePe held a 48.36% market share by volume in August, followed by Google Pay with 37.3% and Paytm with 7.21%. CRED has emerged as the fourth largest player in UPI transactions, with new entrants like Flipkart, NAVI, and BharatPe also making strides in the consumer-facing payments sector. Sources from Entrackr indicate that Infibeam Avenues is set to enter the UPI market with its new payment app, RediffPay. In addition to its growth in India, NPCI has launched instant payment services in various countries, including Singapore, France, Mauritius, Nepal, Bhutan, Sri Lanka, and the UAE.

UPI transactions decline in February but remain strong YoY

EntrackrEntrackr · 11m ago
UPI transactions decline in February but remain strong YoY
Medial

UPI transactions decline in February but remain strong YoY Unified Payments Interface (UPI) recorded 16.11 billion transactions in February 2025, reflecting a slight 5.2% decline from January’s 16.99 billion transactions, according to data released by NPCI. However, on a year-on-year (YoY) basis, UPI transactions surged 33% compared to February 2024. In terms of transaction value, UPI processed Rs 21.96 lakh crore in February, down 6.5% from Rs 23.48 lakh crore in January 2025. Despite the monthly dip, the transaction value witnessed 20% YoY growth. A seasonal dip in February, which has fewer days than January, is a common trend for UPI. The daily transaction average in February stood at 575 million, slightly higher than 548 million in January. The average daily transaction value also increased to Rs 78,446 crore in February from Rs 75,743 crore in January. While UPI transactions saw a slight pullback from the record figures in January, the YoY growth signals a steady upward trend. In January, PhonePe led the chart with 8.1 billion transactions, followed by Google Pay with 6.18 billion, while Paytm secured the third spot, processing 1.15 billion transactions. The monthly breakdown for February has yet to be released. NPCI Chief Dilip Asbe recently revealed that UPI has 450 million users, with 200 million active daily. He emphasized the need for RBI, the government, and financial institutions to support strategies aimed at onboarding 200-300 million more users. NPCI is also set to establish a 5,000-capacity research and development (R&D) center to accelerate innovation in payments technology and strengthen global collaborations.

UPI transactions near 17 Bn in January

EntrackrEntrackr · 1y ago
UPI transactions near 17 Bn in January
Medial

UPI transactions near 17 Bn in January The Unified Payments Interface (UPI) recorded 16.99 billion transactions worth Rs 23.48 lakh crore in January, reflecting a 39% year-on-year growth in transaction volume and a 28% increase in transaction value. On a monthly basis, UPI saw a 1.55% growth in volume and nearly a 1% rise in value, compared to 16.73 billion transactions worth Rs 23.25 lakh crore in December. According to data released by the National Payments Corporation of India (NPCI), the average daily transaction count stood at 548 million. PhonePe currently leads the UPI market with a 47.7% share of transaction volume, followed by Google Pay at 36.7% and Paytm at 6.87%. This market share distribution is unlikely to change soon, as NPCI has extended the compliance timeline for Third-Party App Providers (TPAPs) exceeding the UPI volume cap. The new deadline has been extended by two years, until December 31, 2026. Meanwhile, NPCI has lifted the user onboarding limit for WhatsApp Pay, allowing the platform to offer UPI services to its entire user base across India. Recently, NPCI Chief Dilip Asbe disclosed that approximately 450 million users are currently utilizing UPI, with around 200 million daily active users. He emphasized the need for substantial support from the Reserve Bank of India (RBI), the government, and the broader financial ecosystem to explore strategies for onboarding an additional 200-300 million users onto the UPI platform.

UPI sets all-time high with 19.47 Bn transactions in July

EntrackrEntrackr · 6m ago
UPI sets all-time high with 19.47 Bn transactions in July
Medial

UPI sets all-time high with 19.47 Bn transactions in July Unified Payments Interface (UPI) processed an all-time high of 19.47 billion transactions worth Rs 25.08 lakh crore in July, according to data released by National Payments Corporation of India (NPCI). This marked a 5.8% rise in transaction volume and a 4.3% increase in value compared to June 2025, when UPI logged 18.40 billion transactions totaling Rs 24.04 lakh crore. The average daily transaction count also pushed higher to 628 million in July. Year-on-year, UPI maintained its strong growth momentum, with the transaction volume in July 2025 rising by 35% and the total value of transactions increasing by 22% compared to July 2024. While the breakdown numbers for UPI apps are yet to be released, PhonePe accounted for 46.5% of the total UPI volume and nearly 50% of the value as of June. Google Pay captured a 35.6% share by volume and 35% by value, while Paytm remained in third place with 6.9% of the total UPI volume and 5.6% of the value. UPI is live in countries like Bhutan, Nepal, Mauritius, Sri Lanka, Singapore, France, Oman, and the UAE. NPCI plans further expansion to Qatar, Thailand, Malaysia, and other Southeast Asian nations. The UK, Oman, Maldives, and Namibia are also exploring or initiating UPI integration. According to reports, ICICI Bank has started charging payment aggregators and large merchants a fee for UPI transactions, breaking the zero-fee model. This move marks a shift in India’s UPI system, which was previously free for merchants under a government-backed policy.

UPI processes 20.47 Bn transactions in November

EntrackrEntrackr · 2m ago
UPI processes 20.47 Bn transactions in November
Medial

UPI processes 20.47 Bn transactions in November This marks the third time since its launch that UPI has crossed 20 billion monthly transactions, the earlier instances being in October and August this year. Unified Payments Interface recorded 20.47 billion transactions in November 2025, slightly below the 20.70 billion transactions reported in October, according to fresh data from NPCI. Despite the marginal month-on-month decline, UPI transactions grew 32% year on year. In terms of value, UPI reported Rs 26.32 lakh crore in November compared to Rs 27.28 lakh crore in October. While the annual growth rate stood at 22%, the monthly dip points to a mild cool off after October which was driven by festival-related spending. Average daily transactions rose to 682 million, while the average daily transaction value stood at Rs 87,721 crore, slightly below October which reported Rs 87,993 crore. In October, PhonePe continued to dominate the ecosystem with 9.4 billion UPI transactions, well ahead of Google Pay and Paytm. NPCI has not yet released the UPI app-wise distribution for November. UPI, launched by NPCI in 2016, has expanded steadily beyond India through NPCI International to enable merchant payments and cross-border transactions. It is already live in countries such as Singapore, UAE, Bhutan, Nepal, France, Sri Lanka, and Mauritius, with more overseas partnerships currently under rollout. Recently, the Reserve Bank of India said that UPI will be interlinked with TARGET Instant Payment Settlement, the instant payment system operated by the Eurosystem.

UPI crosses 20 Bn monthly transactions for first time in August

EntrackrEntrackr · 5m ago
UPI crosses 20 Bn monthly transactions for first time in August
Medial

News: UPI crosses 20 Bn monthly transactions for first time in August The Unified Payments Interface (UPI) crossed a major milestone in August 2025 by processing 20.01 billion transactions, the first time it has ever breached the 20 billion monthly mark. In terms of value, UPI recorded transactions worth Rs 24.85 lakh crore during the month. This milestone comes on the back of steady growth over the past few months. In June 2025, UPI clocked 18.40 billion transactions worth Rs 24.04 lakh crore. The following month, July, saw a sharp rise to 19.47 billion transactions, a 5.8% increase from June, with the transaction value climbing to Rs 25.08 lakh crore. In August, UPI transactions crossed the 20 billion mark, posting a 2.8% increase over July. While the total value slipped by 0.9% from the previous month, it still stayed comfortably higher than June’s level. On a year-on-year basis, UPI volumes surged 34%, while the value of transactions jumped 21% in August. The average daily transaction count climbed to 645 million, and the daily value stood at Rs 80,177 crore. UPI also achieved a record of crossing 700 million transactions in a single day on August 2. This surge comes despite the ban on real money gaming platforms, which used to make up a significant share of UPI transactions. Most of these platforms started shutting down after Parliament passed the Promotion and Regulation of Online Gaming Bill, 2025 on August 21. The consistent rise from 18.40 billion transactions in June to 20.01 billion in August underscores the growing reliance on UPI for everyday payments, from peer-to-peer transfers to merchant transactions, cementing its position as the backbone of India’s digital payments ecosystem. As of July, PhonePe (8.93 billion) accounted for a commanding 45.88% share in terms of volume, followed by Google Pay (6.92 billion) with 35.56%. Of the total transaction value of Rs 25,08,498.09 crore, PhonePe held 48.64%, while Google Pay contributed 35.53%. In terms of merchant categories, groceries and supermarkets led UPI transactions with 3.03 billion (3,032 million) in volume and Rs 64,882 crore in value, followed by fast food at 1.22 billion and restaurants at 1.15 billion. Digital goods and games, which also include real money gaming, registered 351.24 million transactions worth Rs 10,076 crore. The breakup data for August is yet to be published by NPCI.

PhonePe records 9.4 Bn UPI transactions in October

EntrackrEntrackr · 2m ago
PhonePe records 9.4 Bn UPI transactions in October
Medial

PhonePe and Google Pay continue to dominate UPI based customer initiated transactions in October. The two apps together accounted for close to 80% of the total volume and value processed through the top 10 apps during the month. PhonePe led the chart with 9,412.07 million (9.4 billion) transactions which gives it a market share of 45.47% by volume. In terms of value, it processed Rs 13,06,401.90 crore contributing 47.88% to the total value of Rs 27,27,790.68 crore. Google Pay followed with 7,165.80 million (7.1 billion) transactions with a 34.62% share by volume. It processed Rs 9,54,186.10 crore in value which translates to a 34.98% share. For context, UPI saw an all time high of 20.7 billion monthly transactions in October, surpassing its previous record of 20.1 billion in August. Paytm was a distant third with 1,522.78 million (1.5 billion) transactions which gives it 7.36% share by volume. It processed Rs 1,67,177.27 crore in value or 6.13% of the total. Navi recorded 574.30 million transactions and a market share of 2.77% by volume while super money had 264.79 million transactions or 1.28%. While Navi saw a 9% increase in volume, Super.money recorded only a 3% increase in monthly transactions. Among the smaller players, CRED processed 157.99 million transactions but contributed a relatively higher 2.29% share of the total value at Rs 62,438.03 crore. BHIM and Amazon Pay recorded 125.70 million and 94.32 million transactions respectively with less than 1% share each. According to NPCI data, UPI spending in October was led by groceries and supermarkets with 3,273.16 million transactions worth Rs 76,073 crore. Fast food outlets saw 1,357.89 million transactions worth Rs 16,798 crore, while restaurants logged 1,190.63 million transactions valued at Rs 20,842 crore. Telecom services recorded 867.86 million transactions amounting to Rs 22,169 crore, and service stations saw 657.36 million transactions with a high outlay of Rs 38,072 crore, highlighting UPI’s dominance across essential and everyday spends. Digital gold also emerged as a notable category, rising to 115.95 million transactions worth Rs 2,290.36 crore in October from 103.19 million transactions worth Rs 1,410 crore in September.

PhonePe hits 9.8 Bn UPI transactions in December; BHIM overtakes CRED

EntrackrEntrackr · 15d ago
PhonePe hits 9.8 Bn UPI transactions in December; BHIM overtakes CRED
Medial

PhonePe hits 9.8 Bn UPI transactions in December; BHIM overtakes CRED PhonePe has continued to tighten its grip on India’s UPI ecosystem in December with 9.81 billion customer-initiated transactions worth Rs 13.61 lakh crore, according to data compiled from NPCI disclosures. The Walmart-backed fintech held a 45.35% market share by volume and 48.68% by value among the top 10 UPI apps during the month. Google Pay retained the second position with 7.5 billion transactions, accounting for a 34.64% share of total volumes and 34.25% of overall transaction value. Paytm stayed in third place with 1.65 billion transactions in December, representing a 7.65% share by volume and 6.32% by value. Beyond the top three, activity remained fragmented. Navi reported 678 million transactions, while super.money recorded 287 million transactions during the month. The government-backed BHIM app saw 158 million transactions, while CRED slipped to eighth position with 157.25 million transactions. However, CRED registered nearly three times higher transaction value compared to BHIM. Axis Bank’s UPI apps and WhatsApp Pay remained small contributors, each accounting for less than 1% of total transaction volumes. The strong app-level numbers came as UPI overall logged one of its highest-ever monthly transactions in December, with 21.63 billion transactions worth Rs 27.97 lakh crore. The increase was mainly due to year-end spending, continued festive demand, and more people using UPI for small offline payments in tier II and tier III cities. In December, UPI transactions were led by everyday consumption categories, as groceries and supermarkets topped the chart, followed by fast food outlets, restaurants, telecom services, and fuel stations. Digital gold also saw a strong uptick during the month, recording 183.32 million transactions worth Rs 2,079.31 crore from 123.42 million transactions valued at Rs 1,215.36 crore in November.

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