UPI Transactions Climb 22% in July, Total Payments Reach ?29.88 Lakh Crore

New Delhi: India's Unified Payments Interface (UPI) continued its strong growth trajectory in July, recording a 22 per cent year-on-year increase in transaction volume to 23.66 billion, while the total value of transactions rose 19 per cent to ?29.88 lakh crore, according to data released by the National Payments Corporation of India on Saturday.

On average, the UPI platform processed around 763 million transactions every day during the month, with the average daily transaction value reaching ?96,383 crore.

The latest figures build on June's strong performance, when UPI recorded 22.72 billion transactions, up 23 per cent year-on-year, with a total value of ?28.92 lakh crore. During June, the platform handled an average of 757 million transactions daily, amounting to ?96,405 crore in daily transaction value.

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The government noted that UPI usage has grown consistently over the past five financial years. The platform processed 4,595.61 crore transactions worth ₹84.16 lakh crore in FY2021-22, which increased to 8,371.44 crore transactions valued at ₹139.15 lakh crore in FY2022-23.

The upward trend continued in FY2023-24, when UPI handled 13,112.95 crore transactions worth ₹199.95 lakh crore. In FY2024-25, the platform recorded 18,586.60 crore transactions with a total value of ₹260.56 lakh crore, according to Minister of State for Finance Pankaj Chaudhary.

The minister also highlighted the growing international footprint of UPI through NPCI International Payments Limited, a wholly owned subsidiary of NPCI established in 2020. The organisation has been partnering with foreign institutions to deploy UPI and the RuPay card network in overseas markets.

These collaborations allow Indian travellers and the Indian diaspora to make seamless cross-border digital payments while also helping partner countries build real-time payment systems and domestic card infrastructure based on India's digital payments model.

UPI is now operational in more than eight countries, including the UAE, Singapore, France, Mauritius, and Sri Lanka, further strengthening India's position as a global leader in digital payments and fintech innovation.

With inputs from IANS