UPI Transactions Touch All-Time High Mark At 20.7 Bn In October

Amid the festive season, UPI transactions rose 5.6% month-on-month (MoM) to 20.7 Bn in October, touching a fresh all-time high. On a year-on-year (YoY) basis, the transaction count jumped 25%.

Prior to this, UPI transactions hit the all-time high mark at 20.01 Bn in August. 

The value of the UPI transactions stood at INR 27.3 Lakh Cr in October, up nearly 10% from INR 24.9 Lakh Cr in September. 

As per the National Payments Corporation of India (NPCI) data, the average daily transaction count stood at 668 Mn in October as against 654 Mn in September. Meanwhile, the average daily transaction value stood at INR 87,993 Cr during the month under review. 

The NPCI generally releases the data for UPI apps by the tenth of the month. In September, PhonePe continued to lead the UPI market, recording 896 Cr transactions with a value of INR 12.03 Lakh Cr. The fintech giant’s market share stood at 46.5%.

GooglePay followed PhonePe with 683 Cr transactions worth INR 8.7 Lakh Cr in September,  accounting for 35.4% market share.

Last month, the NPCI and the industry players also rolled out new UPI features at the Global Fintech Fest 2025. The NPCI is piloting an agentic AI framework for UPI, marking the next phase of what it calls “intelligent commerce”. Additionally, the digital payments body introduced several other features, including UPI Reserve Pay, UPI Help, IoT Payments with UPI, and banking connect. 

Fintech players like Amazon Pay, BharatPe, Navi, among others, also launched several new UPI features. Amazon Pay unveiled UPI Circle with Amazon Pay UPI Circle. The product enables primary users to handle payments for family members and trusted contacts, allowing them to manage and oversee transactions on behalf of others.

Similarly, BharatPe launched BharatPeX, its new online payment aggregator and gateway platform, to help businesses accept and send payments smoothly across various channels, simplifying the payment process.