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UPI handled 25.47 billion payments in October, a record

It was the first month above 25 billion payments and ₹30 lakh crore. Payments grew 23% on a year earlier, value 16%, so the average payment shrank.

Economy · 2 Nov 2026

THE UPI RECORDIndia in Dataindiaindata.onlineIndia made25.47 billionUPI payments in October, a recordWorth ₹31.53 lakh crore. That is 9,509 payments a second, or 18 for every person in India in the month.Twelve months to the recordBillion payments. Each middle bar is the change from the month before. The scale starts at 19 billion.Previous record: 24.51 billion, August 2026October had a day more than September.Per day, payments rose 2.5%.20.70Oct2025−0.23Nov+1.16Dec+0.07Jan−1.31Feb28 days+2.25Mar−0.29Apr+0.85May−0.48Jun+0.94Jul+0.85Aug−0.44Sep+1.40Oct25.47Oct2026One month of UPI, one year of Tamil NaduAreas drawn to scale, ₹ lakh crore. Separate amounts side by side, not parts of one total.₹31.53UPI payments, October 2026one month of money moved₹31.19Tamil Nadu’s economy, 2024-25a whole year of output (GSDP)₹1.02One average UPI day₹0.48October’s net FPI selling₹0.30Jio Platforms IPOAmong states with 2024-25 figures, only Maharashtra’s yearly output, ₹45.32 lakh crore, is bigger than one month of UPI.More payments, smaller onesGrowth since October 2025 (= 100). The gap between the lines is the average payment shrinking.100110120Payments +23%Value +16%Average payment₹1,318 → ₹1,238Oct2025NovDecJan2026FebMarAprMayJunJulAugSepOctSources: NPCI UPI monthly statistics, October 2026 as reported by Inc42 and earlier months compiled by India Dispatch Research. State output: RBI Handbook of Statisticson Indian States 2024-25 (GSDP, current prices). Population: National Commission on Population projection, 2026. FPI selling: NSDL, net equity flows 1 to 23 October.Jio IPO size: NSE. UPI value is money moved, not output or spending, and the same money can move more than once: section 2 compares sizes only.Per-second, per-person, per-day and average-payment figures are our calculations.
Download image (PNG)Read the story: UPI’s record October

UPI processed 25.47 billion payments worth ₹31.53 lakh crore in October 2026, the first month above 25 billion payments and above ₹30 lakh crore. The previous volume record was 24.51 billion in August 2026. In one month, UPI moved slightly more money than Tamil Nadu’s economy produced in all of 2024-25 (₹31.19 lakh crore of GSDP); among states with 2024-25 figures, only Maharashtra’s output (₹45.32 lakh crore) was larger. Against October 2025, payments rose 23% and value 16%, so the average payment fell from about ₹1,318 to about ₹1,238.

UPI processed 25.47 billion payments worth ₹31.53 lakh crore in October 2026, the first month above 25 billion payments and above ₹30 lakh crore. The previous volume record was 24.51 billion in August 2026. In one month, UPI moved slightly more money than Tamil Nadu’s economy produced in all of 2024-25 (₹31.19 lakh crore of GSDP); among states with 2024-25 figures, only Maharashtra’s output (₹45.32 lakh crore) was larger. Against October 2025, payments rose 23% and value 16%, so the average payment fell from about ₹1,318 to about ₹1,238.

Data

MonthPayments (billion)Value (₹ lakh crore)
Oct 202520.7027.28
Nov 202520.4726.32
Dec 202521.6327.97
Jan 202621.7028.33
Feb 202620.3926.84
Mar 202622.6429.53
Apr 202622.3529.03
May 202623.2029.90
Jun 202622.7228.92
Jul 202623.6629.88
Aug 202624.5129.82
Sep 202624.0729.37
Oct 202625.4731.53

Source: NPCI UPI monthly statistics, as reported by Inc42 (October 2026) and compiled by India Dispatch Research (October 2025 to September 2026). See the methodology. Not investment advice.

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