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UPI digital payments in India — latest volume, value & growth

Quick answerIn May 2026 UPI processed a record 23.2 billion transactions worth about Rs 29.9 lakh crore (~Rs 29.9 trillion) — an average of roughly 738 million payments a day. Volume was up about 24% year-on-year. These NPCI totals exclude Credit Card on UPI and Credit Line on UPI, so real usage is a touch higher.
Transactions (May 2026)
23.2 billion
new all-time high
Value (May 2026)
Rs 29.9 lakh crore
about Rs 29.9 trillion
Daily average volume
738 million/day
transactions per day
Daily average value
Rs 84,423 crore/day
about Rs 0.84 trillion/day
YoY volume growth
+24%
vs May 2025
YoY value growth
+19%
vs May 2025

The May 2025 bar is implied from NPCI’s stated +24% year-on-year volume growth; the May 2026 bar is the reported figure. The table below repeats the key figures so they are readable without JavaScript — for accessibility and AI answer engines.

Key UPI figures — May 2026

Transactions23.2 billion
ValueRs 29.9 lakh crore
Daily average volume738 million/day
Daily average valueRs 84,423 crore/day
YoY volume growth+24%
YoY value growth+19%
MoM volume growth+4%

What it means for bankers

UPI is now the backbone of India’s retail payments, and its relentless growth reshapes bank economics: it drives CASA engagement and float but compresses fee income, since person-to-person UPI is free to users. The rail is regulated by the RBI under the Payment and Settlement Systems Act through the , and breaches there feed the RBI penalty tracker. Growth in UPI-linked credit (Credit Line on UPI) is the segment to watch next, as it pulls lending onto the same rails.

Key terms in this dataPlain-English definitions of the terms behind this dashboard — see the full Indian banking glossary. CASA · KYC / AML · Master Direction
More live dataExplore BankPulse’s other live RBI dashboards: Repo Rate Timeline · Money Supply · Credit & Deposit Growth · RBI Penalty Tracker.

UPI FAQ

How many UPI transactions happen in India per month?
UPI processed about 23.2 billion transactions in May 2026, a record high, worth roughly Rs 29.9 lakh crore (about Rs 29.9 trillion). That works out to an average of about 738 million transactions every day.
How fast is UPI growing?
In May 2026 UPI transaction volume was up about 24% year-on-year and value about 19% year-on-year, with a roughly 4% month-on-month rise in volume per NPCI data.
What does the headline UPI number leave out?
NPCI's published UPI totals exclude Credit Card on UPI and Credit Line on UPI, so the true level of UPI-rail usage is somewhat higher than the headline figure.
Who runs UPI and who regulates it?
UPI is operated by the National Payments Corporation of India (NPCI). It is regulated by the Reserve Bank of India under the Payment and Settlement Systems Act, 2007, through the Department of Payment and Settlement Systems.

Methodology & sources: see how BankPulse dashboards are sourced, verified & updated · machine-readable UPI JSON feed.

Last reviewed by
Source: NPCI UPI product statistics (npci.org.in) and RBI payment-system data, rbi.org.in. This is our own plain-English paraphrase, not the source’s original text. Reviewed by our expert reviewer, CA Amit Jain. Last updated 03 Aug 2026, 04:02 IST.
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