UPI Smashes Records in October: 20.7 Billion Transactions Worth ₹27.28 Trillion

The Unified Payments Interface (UPI) recorded its highest-ever transaction numbers in October, processing 20.7 billion transactions worth ₹27.28 trillion. The growth was driven by festive season business activity and GST 2.0 reliefs.

Compared to September, transaction volume rose 5% and value increased 10%. These figures surpass previous records, including 20.008 billion transactions in August and the highest value of ₹25.14 trillion in May. In September, UPI had recorded 19.63 billion transactions worth ₹24.9 trillion. This marks the best month since UPI’s launch in April 2016, with an average of 668 million daily transactions valued at ₹87,993 crore.

IMPS Sees Steady Growth

The Immediate Payment Service (IMPS) also grew, with 404 million transactions in October, up 3% from 394 million in September, though slightly lower than August’s 477 million.

Transaction value rose 8% to ₹6.42 trillion from ₹5.98 trillion in September, compared with ₹6.31 trillion in August. Daily transactions averaged 13.02 million, slightly below September’s 13.15 million, but daily transaction value increased 4% to ₹20,709 crore from ₹19,895 crore. Compared with October 2024, transaction volume fell 14%, while value grew 2%.

FASTag Transactions on the Rise

FASTag transactions increased 8% to 361 million in October from 333 million in September, slightly below August’s 371 million. Transaction value grew 4% to ₹6,686 crore from ₹6,421 crore, nearing August’s ₹6,661 crore. Average daily transactions rose to 11.64 million, with a daily value of ₹216 crore.

AePS Records Steady Uptick

Aadhaar Enabled Payment System (AePS) transactions reached 112 million in October, up 6% from 106 million in September. Transaction value increased to ₹30,509 crore from ₹27,388 crore.

Also Read: Festive Demand Lifts October GST Collections to ₹1.96 Lakh Crore Despite Rate Cuts

In August, AePS volume stood at 103 million with a value of ₹32,329 crore. Daily transactions rose to 3.6 million from 3.55 million, while daily transaction value increased to ₹984 crore from ₹913 crore.

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