Transactions through the popular Unified Payments Interface (UPI) moderated from record high to ₹28.9 lakh crore in June, according to data released by the National Payments Corporation of India (NPCI).

UPI transactions touched a record high of ₹29.9 lakh crore in May 2026.

As per the data released on Wednesday (July 1, 2026), the UPI transaction in volume terms was 22.72 billion recorded in June lower than 23.2 billion in the previous month.

The value of transactions was at ₹28.9 lakh crore in June against ₹24.03 lakh crore in the same month a year ago, registering a 20% growth on an annual basis.

The UPI transaction in volume terms was 18.3 billion recorded in June 2025.

"While the UPI volume for June has decreased month-on-month, the month's daily average of 757 million transactions is the highest-ever recorded since the launch of UPI. These daily averages tell a very interesting story of how UPI has become the default mode of payment for low-value transactions," Reeju Datta, co-founder, Cashfree Payments, said.

According to Spice Money CEO Dilip Modi, June UPI numbers are significant not just because transactions crossed 22.7 billion, but because they reflect the pace at which India's digital payments ecosystem has expanded over the past year.

In just 12 months, UPI volumes have grown over 4.3 billion transactions and nearly ₹5 lakh crore in value, underscoring the increasing trust and dependence on digital payments across the country, he said.

UPI is now live in over eight countries, including the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius, and Qatar, positioning India as a global leader in digital payments.

Its growing international adoption is boosting remittances, promoting financial inclusion, and strengthening India's position in the global fintech landscape.

NPCI, an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association, is an umbrella organisation for operating retail payments and settlement systems in India (IBA).

It runs the UPI used for real-time payments between peers or at merchants' end while making purchases.