The Unified Payments Interface (UPI) continued to dominate India’s digital payments ecosystem in May 2026, recording a new high of 23.2 billion transactions worth Rs 29.9 trillion, according to data released by the National Payments Corporation of India (NPCI).
The figures underscore UPI’s growing role as the backbone of India’s digital payments infrastructure, driven by widespread adoption across person-to-person (P2P), merchant and retail transactions.
NPCI data showed that UPI processed 23,201.93 million transactions during the month, translating into an average of 737.79 million transactions per day. The platform also recorded an average daily transaction value of Rs 84,423 crore, or about Rs 0.84 trillion.
The May performance further widened UPI’s lead over other digital payment systems. In comparison, the Immediate Payment Service (IMPS) recorded 358.10 million transactions during the month, with a total transaction value of Rs 6,95,701 crore, or nearly Rs 6.96 trillion.
NPCI noted that the published UPI figures exclude transactions carried out through Credit Card on UPI and Credit Line on UPI accounts, indicating that the overall transaction volume and value would be higher when these segments are included.
The growth from April to May reflects increasing consumer confidence in digital payments, expanding merchant acceptance and the wider adoption of initiatives such as UPI Lite and UPI services for feature phone users.
The latest data comes as digital payments become increasingly integrated into everyday economic activity, ranging from small-value retail purchases to utility bill payments and other routine transactions. UPI’s real-time settlement capabilities and low-cost architecture have helped establish it as the preferred payment mode for both consumers and businesses.
NPCI’s ongoing efforts to strengthen security measures, enhance fraud prevention systems and expand cross-border UPI linkages are expected to support the next phase of growth.
With FY27 underway, UPI’s May performance sets a strong foundation for continued expansion. The platform’s ability to process more than 700 million transactions daily while maintaining operational stability highlights its scale and resilience. The transaction value of Rs 29.9 trillion during the month further reinforces UPI’s central role in India’s digital payments landscape.
(With inputs from ANI)
