UPI marks 10 years with nearly 13,000-fold rise in annual transaction volume

India's Unified Payments Interface (UPI) is currently facilitating an impressive 66 crore transactions each day. Since 2016, the growth in its transaction volume has skyrocketed by an astounding 13,000 times. UPI has established itself as a foundational component of India's digital public infrastructure and has been recognized by the International Monetary Fund as the leading real-time payment system globally.

Annual UPI transaction volume rose from 1.78 crore in 2016-17 to more than 24,162 crore in 2025-26, an almost 13,000-fold increase, the Finance Ministry said in a statement

New Delhi: The annual transaction volume of Unified Payments Interface (UPI) has surged almost 13,000-fold from 1.78 crore transactions in FY 2016-17 to more than 24,162 crore transactions in FY 2025-26, the Ministry of Finance said on Monday. UPI, launched on August 25, 2016 by the National Payments Corporation of India (NPCI) under the regulatory oversight of the Reserve Bank of India (RBI), has emerged as the backbone of India’s digital payments ecosystem and a key driver of financial inclusion.UPI Transactions Jump 27% To 20.39 Billion In February, Daily Volumes & Global Reach Continue To Rise According to the ministry, the value of UPI transactions has also expanded sharply, rising from Rs 0.07 lakh crore in FY 2016-17 to approximately Rs 314 lakh crore in FY 2025-26, representing a more than 4,000-fold increase over the decade.The platform has become a major pillar of India’s Digital Public Infrastructure, offering an interoperable and real-time payments system that enables seamless person-to-person and person-to-merchant transactions.The ministry said UPI’s scale, reliability and interoperability have received global recognition, with the International Monetary Fund acknowledging it as the world’s largest real-time payment system by transaction volume. As of 2025, UPI accounted for nearly 49 per cent of global real-time payment transaction volume.UPI Commands Largest Share Of Transaction Volume At 85.5% In 2025 2nd Half: RBI Report The growth momentum has accelerated further in 2026. Monthly UPI transaction volume crossed the 2,300 crore mark for the first time in May, when 2,320 crore transactions were recorded. The platform subsequently touched a record 2,366 crore transactions in July, the highest monthly volume in its decade-long journey.Institutional participation has also expanded significantly. The number of banks live on UPI increased from 44 in FY 2016-17 to 703 by FY 2025-26, covering public sector banks, private banks, small finance banks, payment banks and cooperative banks.The ministry said UPI has witnessed particularly strong adoption in merchant payments. Person-to-merchant transactions accounted for 63 per cent of total transaction volume, while person-to-person transactions contributed 71 per cent of the overall transaction value.The data also highlights the widespread use of UPI for small-value everyday payments. Around 86 per cent of P2M transactions in FY2026 were below Rs 500, while 59 per cent of P2P transactions were also below Rs 500.Disclaimer: This story is from the syndicated feed. Nothing has been changed except the headline.

Annual UPI transaction volume rose from 1.78 crore in 2016-17 to more than 24,162 crore in 2025-26, an almost 13,000-fold increase