UPI Transactions Surge 23% to 24.07 Billion in September

In September 2026, transactions via the Unified Payments Interface (UPI) reached 24.07 billion, up 23% from the same period last year. The total value of these transactions increased by 18% to Rs. 29.37 lakh crore.

Key Facts

UPI Volume: In September, UPI recorded an average of roughly 80.2 crore daily transactions, with an average daily value of around Rs. 97,913 crore.
Month-on-Month Comparison: In August 2026, UPI recorded 24.51 billion transactions valued at Rs. 29.82 lakh crore. Thus, transaction volume dropped by about 1.8% month-on-month in September.
New MDR Framework: Merchant Discount Rate (MDR) will remain zero for Person-to-Merchant (P2M) UPI payments up to Rs. 2,000. A 0.4% MDR will apply to specified P2M transactions above Rs. 2,000.
Personal Payments Free: Person-to-Person (P2P) UPI transactions will remain completely free of charge without any amount limits. According to the government, nearly 96% of merchants will also remain unaffected by the MDR on UPI transactions.