- UPI processed 24.07 billion transactions worth Rs 29.37 lakh crore in September 2026
- Transaction volume declined 1.8% from August but daily transactions rose 1.4% to 802 million
- Transaction value rose 18% yearly, with a daily average of Rs 97,913 crore in September
UPI continued to process more than 24 billion transactions in September despite a slight month-on-month decline, with daily usage rising from August levels, data from the National Payments Corporation of India (NPCI) showed.
UPI recorded 24.07 billion transactions worth Rs 29.37 lakh crore in September 2026. Transaction volume fell 1.8% from the record 24.51 billion transactions reported in August, while the total value declined 1.5% from Rs 29.82 lakh crore.
The monthly decline partly reflected September having one fewer day than August. On a daily basis, UPI handled an average of 802 million transactions in September, compared with 791 million in August.
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That represents a 1.4% rise in average daily transaction volume.
The average value processed each day also increased to Rs 97,913 crore from Rs 96,205 crore in August.
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UPI's performance also remained strong on a yearly basis. Transaction volume increased 23% from a year earlier, while transaction value rose 18%.
The payments platform first crossed 23 billion transactions in a single month in May, when it recorded 23.2 billion transactions worth Rs 29.90 lakh crore. It processed 23.66 billion transactions in July before hitting its August record.
NPCI has not yet released the app-wise market share figures for September. In August, PhonePe accounted for 45.64% of transaction volume, followed by Google Pay at 32.26% and Paytm at 8.03%. Together, the three platforms handled 85.93% of UPI transaction volume.
By transaction value, PhonePe held a 47.82% share in August, while Google Pay accounted for 33.78% and Paytm 6.87%.
Meanwhile, the new UPI Merchant Discount Rate framework is scheduled to take effect from October 15 for specified person-to-merchant payments above Rs 2,000. The framework sets MDR at 0.4%, capped at Rs 300 for transactions of Rs 75,000 and above.
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Payments of up to Rs 2,000 and person-to-person transfers remain outside the levy. The Supreme Court has declined to stay the rollout while seeking responses from the Centre, RBI and NPCI on a challenge to the framework.
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