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UPI transactions hit record 21.7 billion in January
01 Feb 2026

The Unified Payments Interface (UPI) has set a new record with 21.7 billion transactions worth ₹28.33 lakh crore in January 2026, according to data from the National Payments Corporation of India (NPCI).

This is an increase over December's figures and marks a strong year-on-year growth of 28%.

The average daily transaction count was 700 million for the month, up from December's average of 698 million.

Year-on-year growth comparison
Transaction growth

In November 2025, UPI had recorded 20.47 billion transactions worth ₹26.32 lakh crore.

The year-on-year growth for January is impressive with a 28% increase in transaction volumes and a 21% rise in value terms.

The average daily transaction value for January was ₹91,403 crore, up from December's ₹91,217 crore.

App-wise transaction volumes in December
Market dominance

While NPCI has yet to release app-wise data for January 2026, December's figures show PhonePe leading with 9.81 billion transactions, nearly 45% of total volumes and almost 49% of transaction value.

Google Pay followed with 7.5 billion transactions while Paytm came third with 1.65 billion transactions.

Other players like Navi, super.money and government-backed BHIM app also contributed to the growth in transaction volumes during the month.