UPI transactions surge by 20 pc to Rs 29.82 lakh crore in August

New Delhi: The Unified Payments Interface (UPI) transaction volumes went up 22 per cent (year-on-year) to 24.51 billion in the month of August, while UPI transaction value surged 20 per cent to Rs 29.82 lakh crore last month, according to data released by the National Payments Corporation of India (NPCI) on Tuesday.

On an average basis, UPI processed around 791 million transactions daily in August, with average daily transaction value standing at about Rs 96,205 crore.

In July, the UPI transaction volumes stood at 23.66 billion, while UPI transaction value surged 19 per cent to Rs 29.88 lakh crore. UPI processed around 763 million transactions daily in July, with average daily transaction value standing at about Rs 96,383 crore.

Meanwhile, the IMPS instant fund transfer counts stood at 360 million in August, with 18 per cent growth in transaction amount at Rs 7.04 lakh crore. Average daily IMPS transaction counts were 11.61 million, with Rs 22,701 crore average daily transaction amount, the NPCI data showed.

Notably, UPI has seen unprecedented growth in both transaction volume and value over the past decade, with annual volumes rising nearly 12,000-fold from 2 crore transactions in FY 2016‑17 to over 24,162 crore in FY 2025‑26, an official factsheet said on Monday.

Annual transaction value grew from Rs 0.07 lakh crore to nearly Rs 314 lakh crore, recording more than 4,000-fold increase.

The UPI network comprised 741 live banks, processed 2,365.8 crore transactions and recorded total transaction value of Rs 29.87 lakh crore in July 2026, according to a latest official factsheet.

The UPI has emerged as a cornerstone of India’s digital payments revolution. UPI is currently accepted in 11 countries, with Greece and the Maldives being the latest to adopt India’s real-time payment platform.

UPI is now operational in Bhutan, Nepal, Singapore, the United Arab Emirates, France, Sri Lanka, Mauritius and Qatar, enabling seamless cross-border digital payments.

The NIPL, the international arm of the NPCI, just entered into a commercial agreement with the National Interbank Processing Centre JSC (NIPC), operator of Uzbekistan’s national payment system, HUMO, marking a significant step in expanding UPI’s international footprint.

The partnership enables Indian travellers to scan Uzbekistan’s national interoperable QR code UZQR using their familiar UPI-enabled applications to make instant merchant payments across the country.

IANS