In August, Unified Payments Interface (UPI) transactions surpassed 24 billion for the first time, with year-on-year increases in both volumes and value accelerating from July, as indicated by the latest payments data.

The nation’s leading instant payment system handled 24.5 billion transactions amounting to Rs 29.8 lakh crore in August. It recorded 23.7 billion transactions totaling Rs 29.9 lakh crore last month.

Although transaction volumes rose by approximately 3.4 percent, the overall value of payments declined slightly from July.

The momentum was evident on a year-over-year basis, with transaction volumes increasing 22.5 percent in August, up from 21.5 percent in July.

The increase in transaction value also rose to 20 percent, up from 19.1 percent in the month before.

In August 2025, UPI handled 20.01 billion transactions totaling Rs 24.85 lakh crore.

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Daily transaction volumes reached a record level as well. UPI processed an average of 790.6 million transactions daily in August, increasing from 763.2 million in July and 645.5 million in August 2025. This equates to an approximate rise of 145 million transactions per day.

The average daily transaction value, however, decreased to Rs 96,194 crore from Rs 96,383 crore in July. It continues to be significantly above the Rs 80,161 crore noted in August 2025.

The ongoing increase in volumes has occurred alongside a reduction in the average value of each UPI payment. The typical transaction amount decreased to Rs 1,217 in August, down from Rs 1,263 in July and Rs 1,242 in August 2025. It has dropped significantly from Rs 1,630 in August 2022 to Rs 1,489 in August 2023.

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The long-term growth has been substantial. Monthly UPI transactions increased from 6.58 billion in August 2022 to 24.5 billion in August 2026, almost quadrupling over four years. The transaction value rose from Rs 10.73 lakh crore to Rs 29.8 lakh crore during the same timeframe. Average daily volumes increased from 212.2 million transactions to 790.6 million.

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In August, Parliament approved the Taxation and Other Laws (Amendment) Bill, 2026, which modifies Section 10A of the Payment and Settlement Systems Act, 2007, allowing the government to authorize fees for UPI and various electronic payment methods. The legislation will enable the government to implement a merchant discount rate on specific high-value transactions.