UPI clocks 23 pc growth in June, transactions hit 22.72 billion
New Delhi, July 1
The Unified Payments Interface transaction volumes rose 23 per cent to 22.72 billion in June, while UPI transaction value surged 20 per cent to Rs 28.92 lakh crore last month, according to data released by the National Payments Corporation of India on Wednesday.
On an average basis, UPI processed around 757 million transactions daily in June, with average daily transaction value standing at about Rs 96,405 crore.
In May, UPI transaction volumes stood at 23.20 billion, and transaction value came at Rs 29.90 lakh crore. On an average basis, UPI processed around 748 million transactions daily in May, with average daily transaction value standing at about Rs 96,465 crore.
What began as a simple payment platform 10 years ago now powers daily digital commerce across India as UPI transactions increased from just 2 crore in FY2016-17 to over 24,162 crore in FY 2025-26.
UPI is now live in more than eight countries, including the UAE, Singapore, France, Mauritius, and Sri Lanka, strengthening India's global fintech presence.
With UPI now live in Greece, eligible customers can transfer money instantly, securely, and seamlessly, with transaction costs reducing drastically to a fraction of conventional transfer costs.
Last month, US lawmakers debating the future of the country's payment system pointed to India's UPI as an example of how modern public payment infrastructure can drive private-sector innovation, as fintech firms urged Congress to overhaul regulations governing access to America's payment network.
The comparisons with India came during a hearing of the House Financial Services Committee's Subcommittee on Financial Institutions, where lawmakers examined whether the United States should modernise its regulatory framework to give qualified non-bank payment companies direct access to the Federal Reserve's payment infrastructure instead of relying on traditional banking intermediaries.
— IANS
Reader Comments
I moved to Bangalore for work from the UK last year, and UPI has completely changed my life. No more fumbling for cash or waiting for card machines. Just scan and go. The fact that it's now live in 8+ countries is amazing. India is leading the world in fintech!
While growth numbers are impressive, I hope NPCI is also focusing on security. There have been some UPI fraud cases in my circle. Also, the daily transaction limit of ₹1 lakh for most banks is sometimes inconvenient for bigger payments. But yes, overall a game-changer for India.
Remember when we used to stand in long queues at ATMs? Now my phone is my wallet. From ₹2 crore to 24,162 crore transactions in a decade - that's not just growth, that's a revolution! And US lawmakers looking at our system? Proud moment for India! Make in India for the world! 🚀
The Greece partnership is interesting. My cousin studied there and used to struggle with remittances. Now UPI makes it instant and cheap. But I hope NPCI expands to more countries, especially in the Middle East where many NRIs live. The potential is massive!
As someone working in fintech, what India has done with UPI is nothing short of miraculous. The US is still debating access to payment networks, while India built a public digital infrastructure that works for everyone - rich, poor, urban, rural. The daily average of 757 million transactions is mind-boggling!
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