UPI transactions hit record high of ₹29.9 lakh crore in May
Key points
- Summer travel and IPL fever pushed transactions through the popular Unified Payments Interface (UPI) to a record high of ₹29.90 lakh crore and 23.2 billion in value and volume terms, respectively, in May, according to data released by the Payments Corporation of India.
- Payments Corporation of India (NPCI) said the value of transactions was at ₹29.03 lakh crore in April against ₹25.14 lakh crore in the same month a year ago, registering a 19% growth on an annual basis.
- In volume terms, it set a new record with 23.2 billion transactions during the month, up 24% from 18.67 billion in the corresponding period.
- The UPI transaction in volume terms was 22.35 billion recorded in April, 2026. According to Cashfree Payments co-founder & CEO Akash Sinha, May's numbers reflect strong organic demand.
- Summer travel, IPL 2026, and seasonal consumer spending drove 23.20 billion transactions worth ₹29.90 lakh crore during the month,...
Quick Summary
Summer travel and IPL fever pushed transactions through the popular Unified Payments Interface (UPI) to a record high of ₹29.90 lakh crore and 23.2 billion
Why It Matters
This development is important because it may impact public opinion, policy decisions, and future developments related to UPI transactions hit record high of ₹29.9 lakh crore in May.
Key Takeaways
- Summer travel and IPL fever pushed transactions through the popular Unified Payments Interface (UPI) to a record high of ₹29.90 lakh crore and 23.2 billion in value and volume terms, respectively, in May, according to data released by the Payments Corporation of India.
- Payments Corporation of India (NPCI) said the value of transactions was at ₹29.03 lakh crore in April against ₹25.14 lakh crore in the same month a year ago, registering a 19% growth on an annual basis.
- In volume terms, it set a new record with 23.2 billion transactions during the month, up 24% from 18.67 billion in the corresponding period.
- The UPI transaction in volume terms was 22.35 billion recorded in April, 2026.
- According to Cashfree Payments co-founder & CEO Akash Sinha, May's numbers reflect strong organic demand.
📌 Source: The Hindu
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