UPI transactions in value terms witnesses more than 4,000 fold jump over the decade
- IBEF
- August 27, 2026
The Unified Payments Interface (UPI), launched on August 25, 2016, has completed a decade of operations, emerging as a key pillar of India’s Digital Public Infrastructure (DPI) and transforming the country’s digital payments ecosystem. UPI transaction value increased from Rs. 0.07 lakh crore in FY17 to around Rs. 314 lakh crores in FY26, representing a more than 4,000-fold increase over the decade. Transaction volumes also surged from 1.78 crore transactions in FY17 to over 24,162 crore transactions in FY26, marking an almost 13,000-fold increase. The platform has enabled interoperable, real-time peer-to-peer and peer-to-merchant payments, becoming a preferred mode of digital transactions for millions of users across India.
On the completion of 10 years of UPI, Prime Minister Mr. Narendra Modi highlighted the platform’s scale and reach as a major milestone in India’s digital payments journey. UPI has increasingly expanded beyond major metropolitan centres, with growing adoption in Tier-2 and Tier-3 cities as well as rural areas. The platform is being used for everyday transactions including groceries, tuition fees, milk deliveries and other payments, supporting financial inclusion and wider participation in the digital economy. Banks have also played a central role by investing in technology, cybersecurity, fraud monitoring, customer support and operational resilience to support the rapid expansion of UPI.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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