UPI Payment Network Hits Record 24.51 Billion Transactions in August

India's Unified Payments Interface (UPI) processed a record 24.51 billion transactions in August 2026, reaching a new monthly volume high. The total value of these transactions amounted to Rs 29.82 lakh crore. This represents a 3.6% increase in transaction volume compared to July, though the overall transaction value saw a slight decline.

Daily transaction volume for UPI averaged 791 million in August. The average transaction value decreased slightly to approximately Rs 1,217, down from Rs 1,263 in July. This suggests that the growth in transaction volume was driven more by smaller value transfers.

Meanwhile, the digital payments landscape showed mixed performance across different rails. While UPI surged, other services experienced varied outcomes. The Immediate Payment Service (IMPS) saw a slight decrease in volume, and the FASTag network for tolls recorded modest increases in transactions.

The Aadhaar-Enabled Payment System (AePS) was the only reported payment rail to show a year-on-year contraction in both volume and value, highlighting UPI's dominant role in India's digital payment ecosystem.