UPI’s annual transaction volume jumped from just 1.78 crore in FY2016-17 to more than 24,162 crore in FY2025-26.
The platform now processes more than 66 crore transactions every day and has expanded to over 700 participating banks.
Highlights
- UPI completes 10 years on August 25, 2026, after its launch in 2016.
- Annual transaction volume rose from 1.78 crore to over 24,162 crore in nearly a decade.
- Annual transaction value increased from about ₹0.07 lakh crore to ₹314 lakh crore.
- July 2026 recorded around 2,366 crore transactions, the highest monthly volume so far.
- The number of banks on UPI increased from 44 to 703 by FY2025-26.
- UPI now processes more than 66 crore transactions per day.
India’s Unified Payments Interface (UPI) is completing 10 years on August 25, marking a decade in which the digital payment system has transformed how millions of Indians make everyday transactions.
Launched on August 25, 2016, UPI has registered massive growth in both transaction volume and value. According to data cited by the Finance Ministry, annual UPI transaction volume stood at just 1.78 crore in FY2016-17. By FY2025-26, it had crossed 24,162 crore transactions, representing an increase of more than 13,000 times in nearly a decade.
The value of payments processed through the platform has expanded even faster in absolute terms. UPI transactions worth around ₹0.07 lakh crore were recorded in FY2016-17. By FY2025-26, their annual value had climbed to approximately ₹314 lakh crore, an increase of more than 4,000 times.
The payment system has continued to set new records in 2026. Monthly UPI transaction volume crossed the 2,300-crore mark for the first time in May, when around 2,320 crore transactions were recorded.
Another record followed in July 2026, with UPI processing approximately 2,366 crore transactions, its highest-ever monthly volume.
The network supporting UPI has also expanded significantly. Only 44 banks were live on the platform during its initial period. By FY2025-26, the number had increased to 703 banks, significantly widening access to UPI-based digital payments across the country.
UPI’s growth has also gained international recognition. The International Monetary Fund has described UPI as the world’s largest real-time payment system by transaction volume. According to figures cited in the report, UPI accounted for around 49% of global real-time payment transactions in 2025.
The Finance Ministry said more than 66 crore UPI transactions are now being processed every day, highlighting the scale at which the platform has become embedded in India’s digital payments ecosystem.
From small merchant payments to person-to-person money transfers, UPI’s decade-long expansion has made instant digital payments a routine part of financial activity across India.
