UPI Transactions Hit Record High in October

India’s Unified Payments Interface (UPI) recorded significant growth in October, with the average daily transaction value crossing the ₹1 lakh crore mark for the first time. The total value of UPI transactions during the month reached ₹31.53 lakh crore. Experts attribute the surge to increased digital payments for everyday purchases as well as higher-value spending during the festive season.

According to data released by the National Payments Corporation of India (NPCI), a total of 2,547 crore UPI transactions were recorded in October, compared with 2,407 crore in September. The monthly transaction volume registered a growth of 5.8%, while the total transaction value increased by 7.4%. Average daily transactions also rose by 2.5% to 82.2 crore, or 822 million, highlighting the continued expansion of digital payments across the country.