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UPI just recorded over 700 million transactions in a day
UPI just smashed its own record, handling 707 million transactions in one day on August 2, 2025.
That's double what it managed daily in 2023, showing how quickly digital payments are catching on as India sets its sights on one billion daily transactions next year.
UPI's growth and challenges
UPI now powers about 85% of all digital payments in India, with a significant portion coming from people paying at shops through apps like PhonePe and Google Pay.
Its instant payment system is winning fans worldwide, but there are concerns about how banks and fintechs can keep up without a fee (MDR) to support costs.
The RBI is considering bringing back MDR for big transactions to help keep UPI strong as usage keeps climbing.