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

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

Transaction volume rose 3.6 per cent compared with July, while value declined 0.2 per cent. August was the second consecutive month of record volume for UPI, following 23.66 billion transactions (worth ₹29.88 trillion) in July. The high in value terms was set in May at ₹29.9 trillion (across 23.2 billion transactions).

August UPI transactions grew 22 per cent in volume and 20 per cent in value compared with the same period last year.

Daily UPI 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 consumers 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, cofounder and chief operating officer of fintech firm Kiwi.

Immediate Payment Service (IMPS) transactions slipped by more than 1 per cent to 360 million in August compared to 364 million in July. In value terms, IMPS dipped 1 per cent to ₹7.04 trillion. In June, IMPS transactions stood at 354 million in volume and ₹6.77 trillion in value.

The number of IMPS transactions in August declined 25 per cent compared with the same month last year, but their value increased by 18 per cent.

The number of daily IMPS 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. Transaction value increased to ₹7,185 crore from ₹7,143 crore in July.

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

“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 (CEO) of PayNearby.

Aadhaar-Enabled Payment System (AePS) transactions grew 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 from ₹27,539 crore in July. Both volume and value declined 19 per cent compared with August 2025.

The number of daily AePS 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, cofounder and CEO, NPST.