Unified Payments Interface transactions saw a minor decline in September 2025, while year-on-year growth and daily averages remained strong, according to data from the National Payments Corporation of India.
Total UPI transactions in September stood at 19.63 billion, down 2 percent from 20.01 billion in August. However, the transaction value rose marginally by 0.2 percent to ₹24.90 lakh crore, compared to ₹24.85 lakh crore in the previous month. In July, UPI had processed 19.47 billion transactions worth ₹25.08 lakh crore.
On an annual basis, UPI continued its rapid growth with a 31 percent increase in transaction volume and a 21 percent rise in transaction value compared to September 2024. Daily UPI transactions increased to 654 million in September from 645 million in August, while the daily transaction value grew to ₹82,991 crore from ₹80,177 crore.
Immediate Payment Service transactions recorded a sharper fall in September. IMPS volume fell 17 percent to 394 million from 477 million in August, while transaction value declined slightly by 0.3 percent to ₹5.97 lakh crore. In July, IMPS had handled 488 million transactions worth ₹6.31 lakh crore. Daily IMPS transactions dropped to 13.15 million from 15.50 million, with daily value rising slightly to ₹19,895 crore.
Ramakrishnan Ramamurthy, Chief Delivery and Operations Officer of a leading payment solutions firm, said, “UPI’s performance in September 2025 reaffirms its position as the backbone of India’s digital payments ecosystem. Recording 19.63 billion transactions worth ₹24.90 lakh crore, the platform witnessed robust year-on-year growth of 31 percent in transaction volume and 21 percent in value.” He added that growing adoption in both urban and rural areas, along with product enhancements like higher transaction limits and credit lines on UPI, would drive future expansion.
Dilip Modi, Founder and CEO of a financial services company, said, “The record-breaking UPI performance in September… underscores the depth of India’s digital payments transformation. The daily average of over ₹82,991 crore highlights how UPI has become a backbone for both consumers and businesses.” He noted that UPI’s expansion has promoted financial inclusion for small merchants, gig workers, and rural users, and that continued innovation and regulation would maintain India’s leadership in digital finance.
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