UPI transactions hit ₹29.82 lakh crore in August, volumes jump 22% year-on-year
Synopsis
UPI processed 24.51 billion transactions worth ₹29.82 lakh crore in August alone — and that is just one month's tally on a platform that has grown 12,000-fold in volume since FY17. With Uzbekistan now joining 10 other countries on the UPI network, India's payments infrastructure is quietly becoming one of its most consequential exports.
Key Takeaways
UPI transaction volumes rose 22% year-on-year to 24.51 billion in August 2026 .
Transaction value climbed 20% to ₹29.82 lakh crore ; daily average stood at ₹96,205 crore .
IMPS recorded 360 million transactions in August, with value up 18% to ₹7.04 lakh crore .
UPI annual volumes have grown nearly 12,000-fold since FY 2016-17 , reaching over 24,162 crore in FY 2025-26 .
UPI is now live in 11 countries ; NPCI International signed a new deal with Uzbekistan's HUMO network.
India's Unified Payments Interface (UPI) recorded a 22% year-on-year surge in transaction volumes to 24.51 billion in August 2026, while transaction value rose 20% to ₹29.82 lakh crore, according to data released by the National Payments Corporation of India (NPCI) on 1 September. The figures reinforce UPI's position as the dominant rail of India's digital payments ecosystem.
August by the Numbers
On a daily average basis, UPI processed approximately 791 million transactions in August, with an average daily transaction value of ₹96,205 crore. This marks a sequential uptick from July 2026, when daily volumes averaged 763 million and daily transaction value stood at ₹96,383 crore. July's monthly volume was 23.66 billion, with a total transaction value of ₹29.88 lakh crore — a 19% year-on-year rise.
IMPS Also Gains Ground
The Immediate Payment Service (IMPS) recorded 360 million transactions in August, with transaction amounts growing 18% to ₹7.04 lakh crore. Average daily IMPS counts stood at 11.61 million, with a daily transaction value of ₹22,701 crore, according to NPCI data.
A Decade of Exponential Growth
The scale of UPI's expansion over the past decade is striking. Annual transaction volumes have risen nearly 12,000-fold — from 2 crore transactions in FY 2016-17 to over 24,162 crore in FY 2025-26, according to an official factsheet. Annual transaction value surged from ₹0.07 lakh crore to nearly ₹314 lakh crore, a more than 4,000-fold increase. The UPI network currently comprises 741 live banks.
UPI Goes Global
UPI is now accepted in 11 countries, with Greece and the Maldives among the most recent adopters. The platform is operational in Bhutan, Nepal, Singapore, the United Arab Emirates, France, Sri Lanka, Mauritius, and Qatar, enabling cross-border merchant payments for Indian travellers.
In a further expansion of its international footprint, NPCI International Payments Limited (NIPL) — the global arm of NPCI — has entered into a commercial agreement with the National Interbank Processing Centre JSC (NIPC), the operator of Uzbekistan's national payment system, HUMO. The partnership allows Indian travellers to scan Uzbekistan's interoperable QR standard, UZQR, directly through their UPI-enabled apps for instant merchant payments. With this addition, UPI's cross-border reach continues to widen as India positions its payments infrastructure as a global export.
Point of View
But the more significant signal is the international push. Domestic UPI growth is now largely structural — 791 million transactions a day is a mature, embedded habit. The real strategic question is whether NPCI International can convert bilateral agreements into genuine transaction volume abroad, or whether these remain largely symbolic for Indian diaspora and tourists. The Uzbekistan deal, like several before it, enables Indian travellers to pay in-country — a useful but narrow use case. For UPI to truly become a global payments export, it needs merchant-side adoption at scale in partner economies, not just QR interoperability at tourist spots.
NationPress
1 Sept 2026
Frequently Asked Questions
What were UPI's transaction figures for August 2026?
UPI recorded 24.51 billion transactions worth ₹29.82 lakh crore in August 2026, reflecting a 22% rise in volume and a 20% rise in value compared to the same month last year, according to NPCI data.
How does August 2026 compare to July 2026 for UPI?
In July 2026, UPI processed 23.66 billion transactions valued at ₹29.88 lakh crore — a 19% year-on-year value increase. August saw higher volumes but marginally lower total value, with daily averages broadly stable.
How much has UPI grown since its launch?
UPI annual transaction volumes have risen nearly 12,000-fold, from 2 crore transactions in FY 2016-17 to over 24,162 crore in FY 2025-26. Annual transaction value grew from ₹0.07 lakh crore to nearly ₹314 lakh crore — a more than 4,000-fold increase.
In which countries is UPI currently accepted?
UPI is accepted in 11 countries as of September 2026, including Bhutan, Nepal, Singapore, the UAE, France, Sri Lanka, Mauritius, Qatar, Greece, and the Maldives, with Uzbekistan added through a new NPCI International agreement.
What is the NPCI International deal with Uzbekistan?
NPCI International Payments Limited signed a commercial agreement with the National Interbank Processing Centre JSC, operator of Uzbekistan's HUMO payment network. The deal allows Indian travellers to use UPI-enabled apps to scan Uzbekistan's UZQR codes for instant merchant payments.
