Daijiworld Media Network - New Delhi

New Delhi, Jul 1: Transactions through the Unified Payments Interface (UPI) moderated slightly to Rs 28.9 lac cr in June after touching a record high in May, according to data released by the National Payments Corporation of India (NPCI).

UPI transactions reached an all-time high of Rs 29.9 lac cr in May 2026. In June, the transaction volume stood at 22.72 billion, compared to 23.2 billion in the previous month.

Despite the month-on-month decline, the value of UPI transactions recorded strong growth compared to the previous year. The transaction value in June was Rs 28.9 lac cr, up from Rs 24.03 lac cr in June 2025, registering an annual growth of around 20%.

The number of UPI transactions in volume terms was 18.3 billion in June 2025.

Cashfree Payments Co-Founder Reeju Datta said that while the monthly transaction volume declined, the daily average reached a record high of 757 million transactions, reflecting the growing use of UPI for low-value payments.

Spice Money CEO Dilip Modi said the June figures highlight the rapid expansion of India’s digital payments ecosystem. Over the past 12 months, UPI volumes have increased by more than 4.3 billion transactions, while transaction value has grown by nearly Rs 5 lac cr.

UPI has now expanded to more than eight countries, including the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius and Qatar, strengthening India’s position in the global digital payments sector.

The growing international adoption of UPI is also supporting faster remittances, financial inclusion and expansion of India’s fintech ecosystem.

NPCI, an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association, operates retail payment and settlement systems in India. It manages UPI, which enables real-time payments between individuals and merchants for transactions.