Unified Payments Interface (UPI) transaction value increased 18% year-on-year to ₹29.37 lakh crore in September 2026, according to data released by the National Payments Corporation of India (NPCI). Transaction volume also rose 23% year-on-year to 24.07 billion during the month.Key HighlightsUPI transaction value reached ₹29.37 lakh crore in September.Transaction value increased 18% year-on-year.UPI transaction volume rose 23% year-on-year to 24.07 billion.Around 802 million UPI transactions were processed per day in September.August recorded ₹29.82 lakh crore in transaction value and 24.51 billion transactions.UPI continues to account for a major share of India's digital payment activity.UPI Transaction Value Rises 18%UPI processed transactions worth ₹29.37 lakh crore in September, marking an 18% increase compared with the same month last year. The latest figures underline the continued scale of digital payments in India.In volume terms, UPI recorded 24.07 billion transactions during September, up 23% year-on-year. The platform processed an average of about 802 million transactions every day.September UPI Transactions Compared With AugustAlthough September recorded strong year-on-year growth, UPI transaction activity was slightly lower than the previous month.In August, UPI processed a record 24.51 billion transactions worth ₹29.82 lakh crore. September's transaction volume of 24.07 billion was about 1.8% lower month-on-month, while transaction value declined around 1.5% from August.The monthly movement does not change the broader year-on-year growth trend, with both transaction volume and value remaining at high levels.UPI Usage Remains StrongData from NPCI and the Reserve Bank of India showed that UPI processed an average of 802 million transactions per day in September, around 1% higher than the comparable daily average in August.Business Standard reported that transaction activity remained relatively steady even after the announcement of a new Merchant Discount Rate (MDR) framework for certain UPI payments.New UPI MDR Framework From October 15The September figures also come ahead of changes to the UPI merchant payment framework.A 0.4% MDR is scheduled to apply from October 15 to certain person-to-merchant UPI transactions above ₹2,000. The Supreme Court recently declined to grant an interim stay on the implementation while seeking responses from the Centre, RBI and NPCI.The framework does not apply to all UPI transactions, and most everyday low-value payments remain outside the new charge structure.UPI Continues to Expand Digital PaymentsUPI has become a major part of India's digital payments ecosystem, supporting transactions between individuals, merchants and businesses.The September data shows that UPI continues to process more than 24 billion transactions in a single month, with transaction values remaining close to ₹30 lakh crore.The latest numbers also come as India continues to expand digital payment infrastructure and UPI's international presence. The government said in August that UPI was operational in 11 countries and had processed more than 24,162 crore transactions during FY 2025-26.
