India’s Unified Payments Interface (UPI), operated by the National Payments Corporation of India (NPCI), achieved a historic milestone by processing 20.01 billion transactions in August—its highest-ever monthly volume.
Key Highlights
- Monthly Volume & Value
UPI recorded 20.01 billion transactions in August, marking a 2.8% increase over July’s 19.47 billion.
The total transaction value stood at ₹24.85 lakh crore, up 21–24% year-on-year, but slightly lower than July’s ₹25.08 lakh crore. - Daily Activity
Average daily transactions rose to 645 million, up from 628 million in July, while the average daily value hovered around ₹80,177 crore. - Growth Drivers and Trends
The surge is partly attributed to the festive season and sustained adoption across P2P and merchant segments. Importantly, the average ticket size decreased to approximately ₹1,243, indicating a rise in small-value transactions.
Significance & Context
This is the first time UPI has crossed the 20 billion monthly transaction mark, reinforcing its dominance as India’s digital payments engine.
UPI’s consistent growth underlines its central role in driving financial inclusion and digitizing the economy. Recent discussions include leveraging UPI for credit access, further integrating it into India’s financial infrastructure.
