New Delhi: In October, India’s Unified Payments Interface (UPI) hit a new milestone with 16.58 billion transactions totaling Rs 23.5 trillion, according to the National Payments Corporation of India (NPCI). This marks the highest monthly transaction count and value since UPI’s launch in 2016, with volume up 10% and value rising 14% from September.
This growth was largely fueled by an uptick in person-to-merchant transactions, as the festive season spurred higher spending. October saw a daily average of 535 million UPI transactions worth Rs 75,801 crore.
Other digital payment methods also saw gains. Immediate Payment Service (IMPS) transactions increased 9% to 467 million, with values reaching Rs 6.29 trillion. FASTag usage rose 8% to 345 million transactions worth Rs 6,115 crore. The Aadhaar Enabled Payment System (AePS) saw notable growth, with transactions up 26% in volume and 35% in value.
These numbers reflect India’s steady shift toward digital payments, especially as UPI becomes more embedded in everyday purchases across the country.
