UPI hits highest ever monthly volume with 23.66 Bn transactions in July

UPI processed 23.66 billion transactions in July 2026, worth Rs 29.88 lakh crore, the highest monthly volume ever.

Volume grew 4.1% from June's 22.72 billion, and 22% year-on-year; value rose 3.3% from June and 19% year-on-year.

PhonePe led UPI with 10.48 billion transactions in June, followed by Google Pay and Paytm.

WhatsApp surpassed CRED in June UPI volume with 150.48 million transactions vs CRED's 141.78 million.

UPI merchant payments are live in 10 international markets, including the Maldives, which launched a real-time payment corridor with India.