UPI transactions hit record high of ₹27.28 lakh crore in Oct, up 16% YoY; total transactions surpass 20 lakh crore

UPI transactions in October hit a record high of ₹27.28 lakh crore in value and 20.7 lakh crore in volume, according to National Payments Corporation of India (NPCI) data. The growth was on the back of festive buying following the GST overhaul introduced in September.

In value terms, the last highest monthly transaction value recorded was ₹25.14 lakh crore in May, while in terms of volume, the last high was 19.47 lakh crore in July.

NPCI data showed that the value of transactions through the Unified Payments Interface (UPI) was at ₹27.28 lakh crore in October against ₹23.49 lakh crore in the year-ago period, marking a growth of 16% year-on-year (YoY).

In September 2025, UPI transaction in value terms was ₹24.90 lakh crore, while volume was 19.63 lakh crore, resulting in a 9.5% month-on-month growth in October.

The average daily transaction volume was 668.1 million in October, with an average value of ₹87,993 crore during the festival month.

"The steady rise in UPI volumes, particularly during high-traffic periods like Diwali, demonstrates the strength of India's digital infrastructure and its ability to handle massive, real-time transactions seamlessly,” a PTI report quoted Spice Money CEO Dilip Modi as saying.

"It also highlights how behavioural change has taken firm root, from large cities to the heart of Bharat, where digital payments are now part of daily life," Modi added.

UPI statistics

UPI in India

UPI accounts for 85% of all digital transactions in India. It has also been expanded internationally by NPCI International, and now powers nearly 50% of global real-time digital payments. 

As many as eight countries accept UPI payments, including Qatar, UAE, Nepal, Sri Lanka, France, Mauritius, Singapore and Bhutan.

In Qatar, UPI went live recently, enabling Indian travellers to make UPI payments seamlessly at major tourist attractions and Qatar Duty Free outlets.

Last week, Paytm, a major digital payment system in India built on the UPI framework, enabled Non-Resident Indians (NRIs) from 12 countries to make UPI payments in India using their international mobile numbers.

NRIs can now use Paytm UPI for everyday payments and money transfers through QR codes or sending money to any UPI ID or UPI-linked mobile number without the need for a local Indian SIM card.

UPI’s expansion in global markets could potentially set India as a global benchmark for real-time, low-cost digital payments.