The Unified Payments Interface (UPI) transaction volumes rose 23 per cent (year-on-year) to 22.72 billion in June, while UPI transaction value surged 20 per cent to Rs 28.92 lakh crore last month, according to data released by the National Payments Corporation of India (NPCI) on Wednesday.
On an average basis, UPI processed around 757 million transactions daily in June, with average daily transaction value standing at about Rs 96,405 crore.
In May, UPI transaction volumes stood at 23.20 billion, and transaction value came at Rs 29.90 lakh crore. On an average basis, UPI processed around 748 million transactions daily in May, with average daily transaction value standing at about Rs 96,465 crore.
What began as a simple payment platform 10 years ago now powers daily digital commerce across India as UPI transactions increased from just 2 crore in FY2016-17 to over 24,162 crore in FY 2025-26.
Beyond transforming digital payments in India, UPI is rapidly emerging as a global payments infrastructure. The platform is now operational in more than eight countries, including the UAE, Singapore, France, Mauritius, Sri Lanka, and Greece, enabling eligible users to make instant, secure, and low-cost cross-border transactions.
As UPI expands internationally, it is strengthening India’s position as a global fintech innovator and setting new benchmarks for interoperable digital payment systems. Its growing footprint reflects increasing international confidence in India’s digital public infrastructure.
The platform’s success is also attracting attention from policymakers around the world. Last month, during a hearing of the US House Financial Services Committee’s Subcommittee on Financial Institutions, American lawmakers and fintech executives cited UPI as an example of how modern public payment infrastructure can spur private-sector innovation.
The discussions came as the US Congress examined whether qualified non-bank payment companies should be granted direct access to the Federal Reserve’s payment infrastructure instead of relying on traditional banking intermediaries, highlighting UPI’s emergence as a global benchmark for digital payment modernisation.
-IANS
