The National Payments Corporation of India (NPCI) reported a significant milestone for the Unified Payments Interface (UPI) network in September, with over 500 million daily transactions, underscoring its widespread use and growth.

The total value of UPI transactions remained above Rs 20 lakh crore for the fifth consecutive month. Average daily transaction values increased to Rs 68,800 crore in September, rising from Rs 66,475 crore in August.

UPI transactions saw a significant year-over-year growth of 31%, reaching Rs 20.64 lakh crore, a clear indication of the platform’s continuous expansion and adoption.

Sunil Rongala, Senior Vice President at Worldline India, commented on the September UPI transaction data, noting its significance in India’s digital transactions. He highlighted that UPI has become the preferred payment method for millions of buyers and merchants.

Despite the total transaction value remaining constant at Rs 20.64 lakh crore, the number of transactions increased from 14.44 billion in July to 15.04 billion in September. This growth underscores UPI’s increasing popularity for microtransactions.

Other digital payment platforms demonstrated consistent performance in September. FASTag transactions remained stable at 11 million daily, with the transaction value rising to Rs 187 crore per day, up from Rs 181 crore in August.

The Aadhaar Enabled Payment System (AePS) experienced a rise in daily transaction volumes, reaching 100 million in September. The value of AePS transactions also increased to Rs 805 crore per day, compared to Rs 796 crore in August, showcasing the growing reliance on digital payment solutions in India.

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