UPI transactions scale all-time high of Rs 29.52 trillion in March

UPI transactions reached an all-time high of ₹29.52 trillion in March, with strong growth in both volume and value, according to NPCI data

Unified Payments Interface (UPI) transactions witnessed a 10 per cent growth in March to record ₹29.52 trillion versus ₹26.84 trillion in February, mainly owing to a rise in demand and also the reduced number of days during the previous month. Volume also grew 11 per cent to 22.64 billion versus 20.39 billion in the previous month, according to data from the National Payments Corporation of India (NPCI).

 

This is the highest-ever volume and value clocked ever since UPI became operational in April 2016. Financial year 2025-26 (FY26) also witnessed a 21 per cent rise in value to ₹314.23 trillion versus ₹260.56 trillion in FY25. Similarly, volume was up by 30 per cent to 241.616 billion, as against 185.85 billion last fiscal.

   

The rise in March comes after volume and value dipped by 6 per cent and 5 per cent, respectively in February, owing to lesser days in the month. Daily transactions in March also zoomed to 730.36 million, compared to 590 million last fiscal, up by 24 per cent. 

 

“The sustained growth in the digital payment ecosystem in India is an affirmation of the penetration of real-time payment systems in the day-to-day life of the people. As the ecosystem is growing, focus on security, innovation, and integration of credit will play an important role in building greater confidence in the use of digital payment systems. Building an inclusive digital payment ecosystem will continue to play an important role in building the next level of growth in the digital payment ecosystem," said Anand Kumar Bajaj, founder, managing director and chief executive officer, PayNearby.

 

Immediate Payment Service (IMPS) transactions were up by 9 per cent in volume at 366 million, compared to 336 million last month. In value terms, this was a 15 per cent rise to ₹7.4 trillion versus ₹6.42 trillion in February. However, the number of daily transactions was down from 12 million in February to 11.8 million in March.

 

FASTag transactions grew 4 per cent to 364 million, compared to 350 million last month, while its value also increased from ₹6,925 crore in February to ₹7,193 crore in March. The number of daily transactions was down from 12.52 million to 11.73 million during the same period. 

 

Aadhaar Enabled Payment System (AePS) transactions increased by 23 per cent to 111 million from 90 million in February. Its value zoomed 24 per cent to ₹31,956 crore, compared to ₹25,762 crore last month.