UPI Records 23.2 Billion Transactions Worth Rs 29.9 Trillion in May 2026: NPCI

June 2, 2026 5:24 PM

UPI Records 23.2 Billion Transactions Worth Rs 29.9 Trillion in May 2026: NPCI

The Unified Payments Interface (UPI) continued to dominate India's digital payments ecosystem in May 2026, recording a new high of 23.2 billion transactions worth Rs 29.9 trillion, according to data released by the National Payments Corporation of India (NPCI). The figures underscore UPI's growing role as the backbone of India's digital payments infrastructure, driven by widespread adoption across person-to-person (P2P), merchant and retail transactions. NPCI data showed that UPI processed 23,...

UPI preferred mode of transaction at 57%, surpassing cash at 38%: Survey

February 16, 2026 3:44 PM

UPI preferred mode of transaction at 57%, surpassing cash at 38%: Survey

Unified Payments Interface (UPI) has emerged as the most preferred mode of transaction, accounting for 57 per cent, surpassing cash transactions at 38 per cent, primarily due to ease of use and instant fund transfer capability, according to a survey. The Department of Financial Services (DFS), Ministry of Finance, released a report titled 'Socio-Economic Impact Analysis of the Incentive Scheme for Promotion of RuPay Debit Card and low-value BHIM-UPI (Person-to-Merchant) transactions' during t...