Unified Payments Interface Monthly Transactions Update

Unified Payments Interface achieved 20.47 billion transactions in November 2025, representing a slight decline from the 20.70 billion transactions recorded in October, as per new statistics from NPCI. Although there was a minor month-on-month drop, UPI transactions experienced an impressive 32% growth when compared to the previous year. This achievement marks the third occasion since its inception that UPI has surpassed 20 billion monthly transactions, following similar milestones in October and August of this year.

Transaction Value Insights

In terms of value, UPI reported a total of Rs 26.32 lakh crore in November, down from Rs 27.28 lakh crore in October. While the annual growth rate was noted at 22%, the slight monthly decline indicates a moderate cooling off period after the October spike attributed to festival-related spending.

Daily Transaction Overview

The average daily transactions reached 682 million, with the average daily transaction value recorded at Rs 87,721 crore, just under the Rs 87,993 crore noted in October. In that month, PhonePe maintained its lead in the market, processing 9.4 billion UPI transactions, far ahead of competitors such as Google Pay and Paytm. The UPI app-wise distribution for November has yet to be disclosed by NPCI.

Global Expansion of UPI

Launched by NPCI in 2016, UPI has steadily broadened its presence beyond India through NPCI International, facilitating merchant payments and cross-border transactions. It is currently operational in countries including Singapore, UAE, Bhutan, Nepal, France, Sri Lanka, and Mauritius, with plans for more international partnerships underway.

Interlinking with European Payment Systems

Recently, the Reserve Bank of India announced plans for UPI to be interconnected with the TARGET Instant Payment Settlement system, which is the instant payment mechanism managed by the Eurosystem.