UPI hits a record 25.47 billion transactions in October
UPI processed 25.47 billion payments worth Rs 31.53 lakh crore in October 2026, and daily value averaged over Rs 1 lakh crore for the first time.
UPI, India's real-time payments network, handled a record 25.47 billion transactions worth Rs 31.53 lakh crore in October 2026, based on National Payments Corporation of India (NPCI) data reported by Entrackr and Indian Opinion on 1 November. The daily average value passed Rs 1 lakh crore for the first time. The record arrives while a planned fee on some merchant payments is still on hold.
What the October numbers show
Entrackr reports that volume rose 5.8% from September's 24.07 billion, and value rose 7.4% from Rs 29.37 lakh crore. Against October 2025, volume was up 23% and value up 16%, according to both outlets. Entrackr does not give last year's totals, so any figure for them would be our own back-calculation.
The daily picture is cleaner than the monthly one, because October has 31 days and September has 30. Entrackr puts the average at about 822 million transactions a day, up 2.5% from about 802 million in September. Average daily value was Rs 1,01,707 crore, against Rs 97,913 crore. This is a monthly average, so not every single day crossed Rs 1 lakh crore. The busiest day was 9 October, with 873 million transactions, as the Economic Times reported and Indian Opinion relayed.
Why October was strong
Both outlets credit festive spending around Navratri and Durga Puja, plus e-commerce sales. Industry executives quoted by Indian Opinion expect volumes to stay high through Dhanteras and Diwali in November. In plain terms, UPI behaves like a road network: the roads are the same, but festival weeks send far more cars onto them.
Entrackr also notes that August's 24.51 billion had been the record until now, and September dipped to 24.07 billion. The new high is therefore a recovery plus growth, not a sudden jump.
The merchant fee still hanging over the numbers
The record sits next to an unresolved policy question. NPCI had planned to start a merchant discount rate (MDR), a fee paid by the shop, on select person-to-merchant payments from 15 October. On 13 October the UPI and Services Steering Committee deferred it, citing the festive season, and said a new date would be notified separately. As Entrackr describes it, the charge is 0.4% on specified payments above Rs 2,000, capped at Rs 300 for payments of Rs 75,000 and above. Payments of Rs 2,000 or less, and person-to-person transfers, are excluded. The Week gives an example: on a Rs 5,000 merchant payment the fee would be Rs 20, subject to final operating rules.
What is not known is the new start date, which merchant categories will be covered, and whether shops can pass the charge on to customers. The Week notes that NPCI has not detailed these points.
What this means for readers
For ordinary users, nothing changes today: person-to-person transfers stay free, and small shop payments of Rs 2,000 or less are outside the proposed fee. For merchants selling higher-ticket items such as electronics, furniture or appliances, the fee could matter once it starts, since it applies per payment above Rs 2,000. For fintech companies, record volumes mean more scale but not necessarily more revenue, because UPI itself has carried no merchant fee.
Use the calculator below to see what a 0.4% fee would cost on your own typical payment. The rate and cap are the reported ones; the payment size and count are examples.
What to watch next
Watch for NPCI's notice with the new MDR date and the covered categories. NPCI's September app-wise data, with PhonePe at 45.6% of volume and Google Pay at 32.2%, was cited by Entrackr; October's app-wise split has not been released.
Key takeaways
- UPI recorded 25.47 billion transactions worth Rs 31.53 lakh crore in October 2026, a record, up 23% in volume and 16% in value on a year earlier.
- Average daily value passed Rs 1 lakh crore for the first time, at about Rs 1.017 lakh crore, though that is a monthly average.
- The busiest day was 9 October, with 873 million transactions.
- The 0.4% fee on select merchant payments above Rs 2,000 is deferred until after Diwali, with no new date announced.
Sources
- [Entrackr: UPI hits record 25.47 bn transactions in October, daily value crosses Rs 1 lakh crore](https://entrackr.com/news/upi-hits-record-2547-bn-transactions-in-october-daily-value-crosses-rs-1-lakh-crore-12772871)
- [Indian Opinion: UPI daily transaction value crosses Rs 1 lakh crore in October](https://indianopinion.org/upi-daily-transaction-value-crosses-rs1-lakh-crore-in-october/)
- [The Week: NPCI defers UPI MDR until after Diwali](https://www.theweek.in/news/biz-tech/2026/10/13/npci-defers-upi-mdr-until-after-diwali.html)
Tags: UPI NPCI MDR digital payments Fintech