UPI clocks ₹314 lakh crore transactions in FY26, marks 10 years of growth

In FY26, UPI processed more than 24,000 crore transactions, with monthly volumes surpassing 2,000 crore for the first time in 2025. The platform now handles roughly 60 crore transactions each day, showing widespread uptake among consumers and businesses.
| Photo Credit:
KAMAL NARANG

The Unified Payments Interface (UPI), marking a decade of service, has hit a record transaction value of ₹314 lakh crore in FY26, reflecting a growth of over 4,000 times since its launch.

In its inaugural year, 2016‑17, the transaction value stood at merely ₹0.07 lakh crore.

UPI Becomes the Foundation of Digital Payments

Launched on April 11, 2016, by the National Payments Corporation of India (NPCI) under RBI’s regulation, UPI has become the cornerstone of India’s digital payments landscape and a key force driving financial inclusion, according to a finance ministry statement.

Significant Growth in Transaction Volume

Over ten years, UPI has shown remarkable scale and momentum. Annual transaction volume grew from just 2 crore in FY 2016‑17 to more than 24,162 crore in FY 2025‑26, an almost 12,000‑fold increase,” the statement noted.

This parallel growth in volume and value underscores UPI’s expanding role in facilitating high‑frequency retail payments,” the statement added.

Key Milestones in UPI’s 2025 Growth

The year 2025 marked a notable milestone in UPI’s growth path,” the statement said.

In August 2025, monthly transaction volumes exceeded 2,000 crore for the first time, hitting 2,001 crore, indicating a new level of adoption,” the statement noted.

The momentum persisted through the year, with December 2025 logging 2,163 crore transactions—the highest monthly total in UPI’s ten‑year history,” the statement added.

High‑Frequency Use and Daily Transaction Figures

During calendar year 2025, UPI handled roughly 22,000 crore transactions in total, which works out to a daily average of about 60 crore transactions,” the statement said.

This ongoing high‑frequency use reflects the deep reach of digital payments nationwide and the rising confidence of citizens, merchants, and businesses in India’s digital payments ecosystem,” the statement noted.

Growth in Bank Participation on UPI

UPI has experienced steady, wide‑ranging growth in institutional participation since its inception.

The count of live banks on UPI rose from 44 in FY 2016‑17 to 703 by FY 2025‑26, encompassing public sector, private, small finance, payment, and cooperative banks, thereby giving UPI extensive geographic coverage,” the statement said.

Each bank acts as a Remitter PSP (handling outgoing transfers) and/or a Beneficiary PSP (receiving funds), with NPCI tracking performance metrics for all participants,” the statement added.

UPI’s Global Lead in Real‑Time Payments

As of 2024, UPI represented nearly 49 % of global real‑time payment transaction volume, a milestone highlighted by the International Monetary Fund (IMF) in its June 2025 report,” the statement said.

Processing more than 66 crore transactions each day, UPI has outpaced major global payment networks, cementing India’s status as the world leader in instant, secure, and inclusive digital payments,” the statement concluded.

Published on April 30, 2026