UPI sets new record at 24.51 bn transactions in Aug, value at ₹29.82 trn

Unified Payments Interface (UPI) monthly transactions touched a record 24.51 billion in August 2026, worth ₹29.82 trillion, data shared by the National Payments Corporation of India (NPCI) on Tuesday showed.

Transaction volume rose 3.6 per cent compared with July, while transaction value declined 0.2 per cent.

This was the second consecutive month in which UPI posted a record transaction volume, after clocking 23.66 billion transactions worth ₹29.88 trillion in July. In value terms, the record so far was in May, when transactions worth ₹29.9 trillion were recorded.

Compared with the same period last year, UPI transaction volume rose 22 per cent in August, while value increased 20 per cent.

Daily transactions in August rose to 791 million in volume from 763 million in July. In value terms, daily transactions stood at ₹96,205 crore in August, compared with ₹96,383 crore in July.

“The steady growth of UPI reflects a fundamental shift in how consume₹manage and make payments today. With UPI now averaging 791 million transactions a day, we believe its next phase of growth will be defined not just by transaction volumes, but by the wider financial experiences it can enable for consumers,” said Siddharth Mehta, co-founder and chief operating officer of Kiwi.

Immediate Payment Service (IMPS) transactions declined by over 1 per cent to 360 million in August, compared with 364 million in July.

In value terms, IMPS transactions also declined 1 per cent to ₹7.04 trillion from July. In June, IMPS transactions stood at 354 million in volume and ₹6.77 trillion in value.

While transaction volume fell 25 per cent compared with the same month last year, value increased 18 per cent.

The number of daily transactions declined from 11.75 million in July to 11.61 million in August. This translated into a daily transaction value of ₹22,958 crore in July and ₹22,701 crore in August.

FASTag transactions increased 1.2 per cent to 351 million in August. During the period under review, transaction value also increased to ₹7,185 crore from ₹7,143 crore in July.

The number of daily transactions rose from 11.21 million in July to 11.32 million in August, while their value increased marginally from ₹230 crore to ₹232 crore during the same period.

“The next phase of growth is about how deeply and inclusively digital payments become embedded in everyday commerce across the country. For this growth to be truly inclusive, digital payments also need to reach consumers beyond the smartphone ecosystem. Assisted payments are helping bridge this gap and bring digital transactions closer to the last mile,” said Anand Kumar Bajaj, founder, managing director and chief executive officer of PayNearby.

Aadhaar Enabled Payment System (AePS) transactions rose 4 per cent to 104 million during August, compared with 100 million in July.

Transaction value, however, declined 5 per cent to ₹26,035 crore in August from ₹27,539 crore in July.

Both volume and value declined 19 per cent compared with July 2025.

The number of daily transactions increased from 3.24 million to 3.35 million, while daily transaction value declined from ₹888 crore to ₹840 crore.

“UPI crossing 24.51 billion transactions in August, its highest ever, is not just another number on the scoreboard. It reflects something deeper: digital payments have now settled into the everyday life of India, the kirana purchase, the auto fare, the neighbourhood vendor who once ran purely on cash. Ticket sizes coming down even as volumes rise tells us this growth is organic and widely distributed, not concentrated in a few pockets,” said Deepak Chand Thakur, co-founder and chief executive officer of NPST.