UPI hits record ₹29.88 lakh crore in July as transaction volume reaches 23.66 billion
UPI processed a reported 23.66 billion transactions worth ₹29.88 lakh crore in July 2026, with transaction value rising 19% year on year. The milestone underscores the payment rail’s growing centrality to merchant checkout and consumer spending.
UPI processed a reported 23.66 billion transactions worth ₹29.88 lakh crore in July 2026, with transaction value up 19% year-on-year. The record reinforces UPI’s importance as a merchant-payment rail for Indian retailers and consumer businesses.
Why this matters
UPI’s record July follows expanded overseas acceptance through NPCI partnerships and discussion of MDR returning above ₹2,000 at large merchants, increasing its relevance across merchant checkout and consumer spending.
Omni-channel is accelerating, up 190900% QoQ.