New record for UPI transactions during festive season:UPI transactions worth ₹27 lakh crore in October, with 25% annual growth

A new record for digital payments has been set in the festive season. In October, UPI recorded 20.7 billion, or 2,070 crore transactions, with a value of ₹27.28 lakh crore. These figures show a 5% higher volume and 10% higher value compared to the previous month of September. According to NPCI’s latest data, an average of 66.8 crore transactions occurred every day in October, which was close to 88,000 crore rupees in terms of value. Impact of Festivals: Why the number of transactions increased The festive season boosted people’s shopping, which significantly increased the use of UPI. From small expenses to large business payments during festivals like Diwali and Dussehra, everything was done through UPI. According to NPCI, GST 2.0 reliefs also supported business activity. UPI proved convenient for both local merchants and consumers. Compared to October of last year, the volume is 14% lower, but the value has increased by 2%. Annual Growth: 25% jump in volume, 16% in value Compared to October 2024, UPI’s volume has increased by 25% and value by 16%. In August 2025, the volume was close to 20 billion, which has now been surpassed. This growth shows that India’s digital economy is rapidly advancing. The use of UPI has also increased in small towns and villages, where local retailers and assisted digital networks are connecting new users. Expert Opinion: UPI has changed the face of payments Anand Kumar Bajaj, Founder and CEO of PayNearby, an expert in the payment industry, said, ‘This festive season, UPI has given new momentum to convenience and commerce. From small purchases to large business payments, it is supporting both consumers and local merchants. India is now driving this momentum, where local retailers and assisted networks are helping new users transact confidently. He further added that the steady growth of 25% in transaction volume and 16% in value shows that UPI is enabling easy and secure payments in communities. Growth also in IMPS, FASTag and AePS India is moving towards a digital economy With the development of credit and interoperable services on UPI, India is moving towards a truly inclusive and accessible digital economy. Experts believe that this growth will accelerate in the coming months. Business activity will continue even after the festivals, which will further strengthen UPI.