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UPI volumes dip in February; average daily count rises to 728 Mn

EntrackrEntrackr · 1d ago
UPI volumes dip in February; average daily count rises to 728 Mn
Medial

News All Stories UPI volumes dip in February; average daily count rises to 728 Mn The sequential decline was mainly due to February having fewer days than January, while average daily transaction (count) activity remained steady. UPI recorded 20.39 billion transactions in February 2026, down from 21.70 billion transactions in January, according to data released by the National Payments Corporation of India (NPCI). Despite the month-on-month decline, transaction volumes increased 27% year-on-year. The sequential decline was mainly due to February having fewer days than January, while average daily transaction activity remained steady. In value terms, UPI transactions stood at Rs 26.84 lakh crore in February, compared with Rs 28.33 lakh crore in January. This represents a 5.3% sequential decline. On an annual basis, transaction value rose 22% YoY. The average daily transaction count in February stood at 728 million, higher than 700 million in January. The average daily transaction value increased to Rs 95,865 crore, from Rs 91,403 crore in the previous month. For comparison, UPI processed 21.63 billion transactions worth Rs 27.97 lakh crore in December 2025, making February weaker on both volume and value than the preceding two months. In January, PhonePe remained the leader in the UPI ecosystem with a 45.7% share of total volume and a 48.6% share by value among UPI apps. Google Pay held the second position, accounting for 33.3% of overall transaction volume and 33.8% of total value. Paytm ranked third with 1.66 billion transactions, translating into a 7.7% share by volume and a 6.4% share by value. The breakup data for February has yet to be released.

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UPI transactions dip marginally to 17.89 Bn in April

EntrackrEntrackr · 10m ago
UPI transactions dip marginally to 17.89 Bn in April
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Since April has 30 days compared to March's 31, adding one day's average daily transaction volume to April's total UPI volume would bring it on par with March’s transaction count. Unified Payments Interface (UPI) registered 17.89 billion transactions in April, marking a marginal 2.24% decline from the 18.30 billion transactions recorded in March. The transaction volume in value terms also saw a slight month-on-month drop of 3.3%, settling at Rs 23.95 lakh crore in April compared to Rs 24.77 lakh crore in the previous month. Despite the dip, year-on-year growth remained strong. April’s transaction count reflected a 34% year-on-year rise, while the transaction amount saw a 22% jump compared to the same month last year. According to NPCI data, the average daily transaction count for April stood at 596 million, up from 590 million in March. The average daily transaction value also slightly increased to Rs 79,831 crore from Rs 79,910 crore in March. Since April has 30 days compared to March's 31, adding one day's average daily transaction volume to April's total UPI volume would bring it on par with March’s transaction count. The small dip in April is likely attributable to the fewer number of business days in the month and possibly the stabilization after March's financial year-end rush. PhonePe, as usual, maintained its leadership among top UPI apps as of March, followed by Google Pay, Paytm, Navi, and Super.money. With a commanding 47.25% market share by transaction volume, PhonePe processed 8.64 billion transactions. Google Pay followed closely with 36.04%, handling 6.59 billion transactions. Together, the two giants controlled over 83% of the UPI transaction volume. In a recent development, the Indian government approved a new scheme with a budget of Rs 1,500 crore to encourage small merchants to use digital payments through the BHIM-UPI platform.

UPI records marginal dip in June with 18.4 Bn transactions

EntrackrEntrackr · 8m ago
UPI records marginal dip in June with 18.4 Bn transactions
Medial

UPI records marginal dip in June with 18.4 Bn transactions This reflects a month-on-month (MoM) dip of around 1.5% in volume and 4.4% in value. On a year-on-year (YoY) basis, UPI volumes in June grew 32%, while the transaction value rose 20%. After hitting an all-time high in May, Unified Payments Interface (UPI) transactions slightly declined in June 2025 in both volume and value. According to data released by the National Payments Corporation of India (NPCI), the platform processed 18.40 billion transactions worth Rs 24.04 lakh crore in June, compared to 18.68 billion transactions worth Rs 25.14 lakh crore in May. This reflects a month-on-month (MoM) dip of around 1.5% in volume and 4.4% in value. On a year-on-year (YoY) basis, UPI volumes in June grew 32%, while the transaction value rose 20%. The average daily transaction count stood at 613 million in June, slightly higher than 602 million in May, while the average daily transaction value was marginally lower at Rs 80,131 crore compared to Rs 81,106 crore in the previous month. The higher daily average in June is likely due to the fewer number of days in the month compared to May. As of May, PhonePe retained its lead with a 46.47% share of the total UPI volume, followed by Google Pay with a 36.09% market share. Paytm is the third-largest UPI player with a 6.84% share of the UPI volume. New entrants like Navi, Flipkart’s super.money, and Fampay by Trio are also making notable contributions to the overall UPI volume. Besides India, UPI is currently live in Bhutan, Nepal, Mauritius, Sri Lanka, Singapore, France, Oman, and the UAE. According to media reports, NPCI is also aiming to expand UPI to additional countries, including Qatar, Thailand, Malaysia, and other Southeast Asian nations, while the UK, Oman, and the Maldives have shown interest or are in the early stages of integration.

UPI records highest ever monthly transactions at 21.63 Bn in December

EntrackrEntrackr · 2m ago
UPI records highest ever monthly transactions at 21.63 Bn in December
Medial

UPI records highest ever monthly transactions at 21.63 Bn in December. Unified Payments Interface processed 21.63 billion transactions in December 2025, the highest monthly transaction count ever recorded on the platform, with a 29% year on year rise in volumes, according to data released by the National Payments Corporation of India. In value terms, UPI transactions stood at Rs 27.97 lakh crore. The platform handled an average of 698 million transactions per day, while the average daily transaction value was Rs 90,217 crore. On a month on month basis, transaction volumes increased from 20.47 billion in November, while transaction value rose from Rs 26.32 lakh crore. In November, UPI had reported 32% YoY growth in volumes and 22% growth in value, with December surpassing all previous months in terms of transaction count. UPI’s continued scale up has been driven by strong adoption across everyday consumer spends and merchant payments. November data showed higher activity across categories such as groceries, food services, telecom and fuel, indicating deeper penetration of digital payments in routine transactions. App wise data for December is yet to be released. However, November figures showed PhonePe strengthening its leadership position, while Google Pay saw a marginal dip in market share. Paytm remained the third largest player, with smaller apps such as Navi, super.money, Cred and BHIM accounting for an increasing share of overall transaction volumes.

UPI transactions decline in February but remain strong YoY

EntrackrEntrackr · 1y 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 surge 13.6% in March

EntrackrEntrackr · 11m ago
UPI transactions surge 13.6% in March
Medial

UPI transactions surge 13.6% in March Unified Payments Interface (UPI) recorded 18.30 billion transactions in March, compared to 16.11 billion in February. This represents a 13.6% month-on-month growth and a 36% year-on-year increase, according to data published by NPCI. For the first time, UPI crossed the 18 billion transaction volume mark on a monthly basis. The total transaction amount in March rose by approximately 12.80% to Rs 24.77 lakh crore, compared to Rs 21.96 lakh crore in February. The average daily transaction count in March stood at 590 million, compared to 575 million in February. The average daily transaction amount also saw an increase to Rs 79,910 crore in March from Rs 78,446 crore in the previous month. Several factors have contributed to this growth, including the widespread adoption of UPI by merchants across sectors, government initiatives promoting digital transactions, and increased consumer awareness and convenience. For context, the Indian government recently approved a new scheme to encourage small merchants to use digital payments through the BHIM-UPI platform. The 'Incentive Scheme for Promotion of Low-Value BHIM-UPI Transactions (P2M)' will run from April 1, 2024, to March 31, 2025, with a budget of Rs 1,500 crore. While the top three UPI apps—PhonePe, Google Pay, and Paytm—continued to dominate the market as of February, Flipkart’s Super.money entered the top five for the first time.

UPI sets new monthly record with 21.7 Bn transactions in January

EntrackrEntrackr · 28d 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.

UPI transaction volume dips slightly in September

EntrackrEntrackr · 5m ago
UPI transaction volume dips slightly in September
Medial

UPI transactions in India remained strong in September 2025, with the platform processing 19.63 billion transactions valued at Rs 24.90 lakh crore, according to data from NPCI. While the transaction count showed a slight dip (1.9%) from August’s 20.01 billion, the total value edged higher from Rs 24.85 lakh crore. The slight decline is partly due to September having fewer days than August. The average daily transaction volume in September was 654 million, generating a daily value of Rs 82,991 crore, compared to 645 million transactions and Rs 80,177 crore per day in August. On a year-on-year basis, September saw transaction volumes rise 31% and transaction values increase 21%, compared with August’s 34% growth in volumes and a 21% rise in value. As of August, PhonePe held a 45.74% share of transaction volume, followed by Google Pay with a 35.30% share. For the first time, PhonePe and Google Pay crossed the 9 billion and 7 billion monthly transaction milestones, respectively, in August. Sector-wise, grocery and supermarket merchants recorded the highest UPI usage, followed by fast food and restaurant categories. The breakup data for September is yet to be released. UPI has expanded to several new countries, including France and the UAE, with agreements in place for Namibia, Trinidad and Tobago, and Peru. It is already operational in Bhutan, Singapore, Sri Lanka, Mauritius, and Nepal, and recently went live in Qatar.

UPI daily transactions cross 500 Mn mark

EntrackrEntrackr · 1y ago
UPI daily transactions cross 500 Mn mark
Medial

Unified payments interface (UPI) has crossed the milestone of processing 500 million transactions on a daily basis for a couple of times in August. This is a significant jump in daily volume as the Indian government has set the ambitious target of clocking 1 billion transactions per day by 2026-27. As per data published by the NPCI, UPI crossed 500 million transaction count on August 2 and August 5. However, this is the third instance when UPI achieved the milestone. The previous was on July 2, 2024, according to UPI data analyzed by Entrackr. To recall, UPI first crossed 500 million transactions on a monthly basis for the first time in November 2018 and it took less than six years to achieve the same feat on a daily basis. This also shows that the NPCI has developed a robust platform which can handle ever-growing scale. Currently, there are very few companies in India and overseas that are capable of processing over 50 crore transactions on a daily basis. “0.5 Bn/day. Time to revise the India Vision from 1 billion / day to 100 Bn/month,” said NPCI CEO Dilip Asbe on X. In July, UPI transactions rose 3.95% month-on-month to 14.44 billion from 13.89 billion in June. Volume wise, PhonePe had 48.3% market share in UPI as of June followed by Google Pay and Paytm with 36.7% and nearly 8% market share, respectively. A bunch of new players such as CRED, NAVI, Groww, Slice and recently launched Flipkart UPI are also clocking decent volumes in UPI. The volume breakup for July is yet to be published. NPCI has also launched a credit line on UPI facility in which ICICI Bank is one of the leading banks with other five to six lenders. Recently, NPCI chief operating officer (COO) Praveena Rai said that UPI is adding up to 6 million new users every month. Besides India, NPCI has launched the instant payments services in foreign countries including Singapore, France, Mauritius, Nepal, Bhutan, Sri Lanka and the UAE.

UPI transactions surge 8% in December

EntrackrEntrackr · 1y ago
UPI transactions surge 8% in December
Medial

UPI transactions surge 8% in December Unified Payments Interface (UPI) recorded 16.73 billion transactions worth Rs 23.25 lakh crore in December, marking an 8% increase in volume and a 7.88% rise in value compared to November. On a year-on-year basis, this reflects a 39% year-on-year (YoY) growth in volume and a 28% increase in value, according to data released by NPCI (The National Payments Corporation of India). The average daily transaction count for December was 540 million, with a total daily transaction value of Rs 74,990 crore. In November, the daily average transaction count was 516 million, with a daily transaction value of Rs 71,840 crore. This upward trend continued from October 2024, when UPI processed 16.58 billion transactions worth Rs 23.50 lakh crore. PhonePe currently leads the UPI market with nearly 48% share by transaction volume, followed by Google Pay at 37% and Paytm at 7%. The market share is unlikely to change as NPCI has extended the compliance timeline for Third Party App Providers (TPAPs) exceeding the volume cap in UPI. The 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 extend UPI services to its entire user base across the country. Currently, UPI payments are accepted in seven countries, including Bhutan, Mauritius, Nepal, Singapore, Sri Lanka, and France. According to media reports, NPCI is working to expand its services to Qatar, Thailand, and the broader Southeast Asian region.

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