UPI notches record 19.47 billion transactions in July
UPI just hit its highest numbers ever, clocking 19.47 billion transactions worth ₹25.08 lakh crore last month, according to NPCI.
That's a 5.8% jump in volume and a 4.3% rise in value from June, with an average of 628 million payments happening every day.
Compared to July last year, UPI's usage is up by a massive 35% in volume and 22% in value—showing just how central it's become for digital payments in India.
Things to look out for
PhonePe led the pack with nearly half of all UPI transactions, while Google Pay and Paytm followed behind.
NPCI is also gearing up to take UPI global, including Qatar and Thailand soon.
Meanwhile, ICICI Bank has started charging fees for some UPI payments via aggregators—a first for Indian banks—which could mean changes ahead for how we pay online.