Unified Payments Interface (UPI) recorded its highest ever monthly transaction volume in July 2026, with23.66 billion transactionsworthRs 29.88 lakh crore, according to data released by the National Payments Corporation of India (NPCI). The July numbers surpassed theprevious record of23.20 billiontransactionsset in May this year. However, transaction value remained marginally below the all time high ofRs 29.90 lakh crorerecorded in the same month. On a daily basis, UPI processed763 million transactions, while the average daily transaction value stood atRs 96,383 crore. Compared to June, transaction volume increased4.1%from22.72 billion, while transaction value rose3.3%fromRs 28.92 lakh crore. On a year on year basis, transaction volume grew22%, while transaction value increased19%. UPI crossed the23 billion monthly transactionmark for the first time in May. As of June, Walmart backed digital payments platformPhonePeretained its lead in the UPI ecosystem with10.48 billion transactions, followed byGoogle PayandPaytmin the second and third spots, respectively. Meanwhile,WhatsAppsurpassedCREDin UPI transaction volume, processing150.48 million transactionscompared with141.78 millionfor CRED. NPCI is yet to release the app wise transaction data for July. Recently, the Maldiveslauncheda real time payment corridor with India, further expandingUPI's global footprint. UPI merchant payments are now live in10 international markets: Bhutan, Singapore, the United Arab Emirates, France, Mauritius, Sri Lanka, Nepal, Qatar, Cambodia, and the Maldives. Greece remains connected for person to person transfers, while Singapore and Nepal also support remittance linkages. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
