UPI July 2026 Record: 23.66 Billion Transactions Mark a New Era for Digital Payments

India's Unified Payments Interface (UPI) hit its highest-ever monthly volume in July 2026

Gunjan DA

2w ago · 1 min read

processing 23.66 billion transactions worth ₹29.88 lakh crore, according to data released by the National Payments Corporation of India (NPCI) . This marks a 4.1% jump over June's 22.72 billion transactions and surpasses the previous record of 23.20 billion set in May.

Year-on-year, transaction volumes surged 22% and value rose 19%, with UPI now averaging 763 million transactions a day. Industry experts note the growth is largely organic driven by everyday spending rather than seasonal spikes with the fastest expansion happening beyond metro cities, in Tier-2, Tier-3, and rural regions.

As of June, PhonePe led the ecosystem with 10.48 billion transactions, followed by Google Pay and Paytm. With the festive season approaching, industry watchers expect volumes to climb even further in the second half of 2026.

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Written by

Gunjan DA