UPI Falls To 24.07 Billion, But Daily Payment Activity Picks Up

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India's Unified Payments Interface (UPI) processed 24.07 billion transactions worth ₹29.37 lakh crore in September 2026, a marginal decline from August's record levels. But the monthly fall does not tell the entire story.

Transaction volume declined 1.8% month-on-month from 24.51 billion in August, while transaction value fell 1.5% from ₹29.82 lakh crore. On a daily basis, however, UPI activity moved in the opposite direction.

Average daily transactions increased to 802 million in September from 791 million in August, while the average daily transaction value rose to ₹97,913 crore from ₹96,205 crore.

September had 30 days compared with August's 31. The lower monthly total therefore came alongside higher transaction activity on an average day.

And compared with a year earlier, UPI continued to expand. September transaction volumes grew 23% year-on-year, while transaction value increased 18%.

A Monthly Dip, But Not A Usage Slowdown

At start, September appears to have interrupted UPI's...

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