UPI September 2026: 24.07 billion transactions worth ₹29.37 lakh crore
Why in the news
Data from the National Payments Corporation of India (NPCI) released at the start of October 2026 showed that UPI crossed an average of 800 million transactions a day in September 2026, even though total monthly volume slipped slightly from August.
Key facts
- Monthly volume: 24.07 billion transactions in September 2026.
- Monthly value: ₹29.37 lakh crore.
- Annual growth: volume up 23% and value up 18% over September 2025.
- Monthly change: volume fell 1.8% and value fell 1.5% from August, partly because September has 30 days against August’s 31.
- Daily average: 802 million transactions, a first-ever crossing of the 800 million mark, with a daily value of ₹97,913 crore.
| Indicator | August 2026 | September 2026 |
|---|---|---|
| Volume | 24.51 billion | 24.07 billion |
| Value | ₹29.82 lakh crore | ₹29.37 lakh crore |
| Daily average volume | 791 million | 802 million |
| Daily average value | ₹96,205 crore | ₹97,913 crore |
About the new UPI MDR framework
NPCI has notified a merchant discount rate (MDR) of 0.4% on specified person-to-merchant (P2M) UPI payments above ₹2,000, effective 15 October 2026. The charge is capped at ₹300, a level reached at transactions of ₹75,000 and above. Payments up to ₹2,000 and all person-to-person (P2P) transfers stay free, and merchants cannot pass the charge on to customers.
In August 2026, PhonePe (45.64%) and Google Pay (32.26%) led UPI volume share, followed by Paytm (8.03%).
Exam angle
- UPI is operated by NPCI; remember the monthly volume (24.07 billion) and value (₹29.37 lakh crore).
- 802 million daily transactions marked the first month above 800 million.
- MDR of 0.4% (cap ₹300) on P2M payments above ₹2,000 applies from 15 October 2026.