UPI sets new record in Oct with 16.58 bn transactions worth Rs 23.5 trn

There were 16.58 billion Unified Payments Interface (UPI) transactions worth Rs 23.5 trillion in October, the highest numbers for the digital system since it became operational in April 2016.

UPI’s previous peak was 15.04 billion in volume terms in September 2024 and Rs 20.64 trillion in value in July. Data from previous months shows that the growth in transactions is driven by person to merchant transactions (for buying goods or services), which got a festival season push in October. It was the first time that UPI crossed 16 billion in volume and Rs 23 trillion in value.