Category: Business News
UPI processed a record 25.47 billion transactions worth ₹31.53 lakh crore in October 2026, according to data released by the National Payments Corporation of India (NPCI) on 1 November 2026. It was the first month ever in which UPI crossed 25 billion transactions and ₹30 lakh crore in value in the same month.
The average daily value crossed ₹1 lakh crore for the first time, at ₹1,01,707 crore. On average, Indians made 822 million UPI transactions a day in October.
The October numbers
- Transactions: 25.47 billion, up 5.8% from 24.07 billion in September, and up 23% from 20.70 billion in October 2025
- Value: ₹31.53 lakh crore, up 7.4% from ₹29.37 lakh crore in September, and up 16% from ₹27.28 lakh crore in October 2025
- Average daily transactions: 822 million, up from 802 million in September
- Average daily value: ₹1,01,707 crore, up from ₹97,913 crore in September
- Average transaction size: about ₹1,238
- Peak day: around 873 million transactions on 9 October, ahead of Navratri
The previous monthly value record was ₹29.90 lakh crore, set in May 2026. October was also the first month in which the average daily value crossed ₹1 lakh crore — a monthly average, not a level reached every single day.
Why October was so big
Festive-season shopping drove the surge, with Navratri and Diwali spending pushing both the number and the value of payments higher. October has 31 days against September’s 30, which also helped the monthly totals, but the daily averages set records too.
IMPS, another NPCI payment system, processed ₹7.63 lakh crore in October, up 19% year on year.
Merchant fee delayed until after Diwali
The record month came just before a planned change to UPI charges. NPCI had planned to introduce a merchant discount rate (MDR) of 0.4% on select person-to-merchant UPI transactions from 15 October. On 13 October, the UPI and Services Steering Committee deferred it until after Diwali, keeping the festive season in mind. The new date will be notified separately.
The MDR framework provides for a 0.4% charge on specified person-to-merchant transactions above ₹2,000, with a cap of ₹300 for transactions of ₹75,000 and above. Regular person-to-person UPI payments are not affected.
Who leads the UPI market
The October app-wise split has not been released yet. In September, PhonePe led with a 45.6% share of transaction volume, followed by Google Pay at 32.2% and Paytm at 8.1%.
Source: NPCI data, 1 November 2026, via Entrackr, Inc42 and IANS.
