UPI Hits Record High in October with 20.7 Billion Transactions Worth Rs 27.28 Trillion
The Unified Payments Interface (UPI) achieved a new milestone in October 2025, recording 20.7 billion transactions valued at ₹27.28 trillion, according to data released by the National Payments Corporation of India (NPCI).
This marks a sharp rise from September’s 19.8 billion transactions worth ₹25.7 trillion, reflecting strong festive season spending and increased business activity following the rollout of GST 2.0 relief measures.
Analysts attribute the growth to a surge in retail and e-commerce transactions and improved liquidity among small businesses due to faster GST refunds and compliance relaxations.
Experts say UPI’s expansion is being driven by rising adoption in smaller towns and rural regions, along with innovations like credit lines on UPI, UPI Lite, and cross-border payment integration.
The digital payments momentum is expected to continue through the wedding and travel seasons, though experts caution that ensuring transaction security and network stability will be key as volumes grow further.
October’s record performance reinforces UPI’s role as the cornerstone of India’s digital economy, showcasing the country’s steady shift from cash-based to instant, contactless payments.
