UPI Transactions Reach Record 23.66 Billion in July 2026

India’s Unified Payments Interface recorded its highest-ever monthly transaction volume in July 2026, underlining the continued expansion of digital payments across the country.

The platform processed 23.66 billion transactions during the month, with the total value reaching ₹29.88 lakh crore. Compared with June, transaction volume increased by 4.1 per cent from 22.72 billion, while transaction value rose by 3.3 per cent from ₹28.92 lakh crore.

On a year-on-year basis, UPI transaction volume grew by 22 per cent and the value of payments increased by 19 per cent. The July volume exceeded the previous record of 23.20 billion transactions registered in May 2026. However, the total value remained slightly below May’s record of ₹29.90 lakh crore.

Average daily activity during July stood at around 763 million transactions, representing an average daily value of approximately ₹96,383 crore.

The latest figures reflect UPI’s growing role in routine financial activity, including utility payments, grocery purchases, transport expenses and small retail transactions. Adoption is also spreading steadily beyond major cities, with stronger usage visible across tier-2 and tier-3 towns as well as rural areas.

This wider penetration indicates that digital payments are increasingly replacing cash for low-value and everyday transactions. The availability of smartphones, interoperable payment applications and merchant QR codes has helped make UPI accessible to both consumers and small businesses.

UPI’s international presence has also continued to expand. Merchant payments using the Indian platform are now operational in ten countries: Bhutan, Singapore, the United Arab Emirates, France, Mauritius, Sri Lanka, Nepal, Qatar, Cambodia and the Maldives.

Among UPI applications, PhonePe remained the largest platform by transaction volume in June, processing 10.48 billion payments, followed by Google Pay and Paytm.

With the festive season expected to increase retail and consumer spending later in the year, transaction volumes may rise further during the second half of 2026. The July record reinforces UPI’s position as the central pillar of India’s digital-payments system and one of the world’s largest real-time payment networks.