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UPI hits record 19.5B transactions worth ₹25L crore in July
01 Aug 2025

The Unified Payments Interface (UPI) has achieved a major milestone by processing a record-breaking 19.47 billion transactions worth ₹25.08 lakh crore in July.

The data was released by the National Payments Corporation of India (NPCI).

This marks a 5.8% increase in transaction volume and a 4.3% rise in value from June, when UPI recorded 18.40 billion transactions worth ₹24.04 lakh crore.

YoY growth remains strong
Transaction surge

In July, UPI also saw an increase in its average daily transaction count to 628 million.

Year-on-year (YoY), the platform's growth remained strong with a 35% increase in transaction volume and a 22% rise in total value compared to July last year.

The numbers highlight UPI's growing importance as a digital payment method in India.

Market share of top apps in June
Market leaders

While the specific numbers for UPI apps are yet to be released, PhonePe led with a whopping 46.5% share of the total UPI volume and nearly half (50%) of the value as of June.

Google Pay followed with a 35.6% share by volume and 35% by value, while Paytm was third with 6.9% of total UPI volume and 5.6% of its value.

International expansion of UPI
International reach

The NPCI has already launched UPI in Bhutan, Nepal, Mauritius, Sri Lanka, Singapore, France, Oman, and the UAE.

The organization is also planning to expand to Qatar, Thailand, Malaysia, and other Southeast Asian nations as part of its international expansion strategy.

Other countries like the UK, Maldives, and Namibia are also exploring or starting UPI integration into their payment systems.

ICICI Bank starts charging merchants
Fee introduction

In a major shift from India's zero-fee model for merchants, ICICI Bank has started charging payment aggregators and large merchants a fee for UPI transactions, breaking the zero-fee model.

The move is the first of its kind by an Indian bank and could bring changes in how online payments are processed in the country.