UPI daily average transactions continue to rise in September

MUMBAI: India’s digital payments activity remained strong in Sept despite lower monthly transaction counts, with daily average UPI value rising to Rs 97,913 crore from Rs 96,205 crore in Aug and IMPS value increasing to Rs 23,530 crore from Rs 22,701 crore, according to National Payments Corporation of India data.Given the lesser number of days in Sept, monthly UPI transaction volume fell to 2,407 crore in Sept from 2,451 crore in Aug, while monthly transaction value declined to Rs 29.37 lakh crore from Rs 29.82 lakh crore. IMPS transactions also fell to 35.4 crore from 36 crore. The declines partly reflected the shorter month, with Sept having 30 days compared with 31 in Aug.On a daily basis, UPI transactions increased to 80.2 crore in Sept from 79.1 crore in Aug. Daily average transaction value rose by Rs 1,708 crore to Rs 97,913 crore. Compared with Sept 2025, daily UPI value increased 18% from around Rs 82,977 crore, while daily transaction volume rose 23% from around 65.2 crore to 80.2 crore.IMPS showed a similar increase in daily value despite the fall in monthly transaction count. Daily average turnover rose 3.65% month-on-month to Rs 23,530 crore in Sept, adding Rs 829 crore to the daily flow compared with Aug. Daily transaction frequency increased to 1.18 crore from 1.16 crore.On a year-on-year basis, daily IMPS transaction value increased 18% from around Rs 19,941 crore in Sep 2025. However, total IMPS transaction volume fell 10%, while UPI transaction volume increased 23%.The contrasting trends point to a shift in the use of the two payment rails. UPI has absorbed a growing share of frequent, lower-value transactions, while IMPS continues to handle larger-value fund transfers. With daily average values rising on both platforms, Sep data points to higher transaction value moving through India’s real-time payments infrastructure despite the lower monthly counts.You use AI every day. Now get your AI Quotient. Take the AIQ test.