UPI Sets New Monthly Record With 20.70 Billion Payments Worth ₹27.28 Lakh Crore

Overview

• NPCI data show October’s average daily activity at 668 million transactions with an average daily value of Rs 87,993 crore.
• Total value rose to roughly Rs 27.28 lakh crore in October, up about 10% from September, with transaction count up 25% year on year and value up 16%.
• Bank of Baroda reports UPI spending during the Dussehra–Diwali period reached Rs 17.8 lakh crore versus Rs 15.1 lakh crore a year earlier, citing GST 2.0 as a consumption catalyst and referencing a government estimate of a potential Rs 20 lakh crore uplift.
• App-level data for September indicate a concentrated market, with PhonePe handling 896 crore transactions for a 46.5% share and Google Pay processing 683 crore for 35.4%.
• NPCI has begun piloting an agentic AI framework for UPI and introduced features such as UPI Reserve Pay, UPI Help, IoT payments with UPI, and banking connect.