UPI Sees 31% Transaction Count Growth At 19.63 Billion: NPCI

New Delhi (IANS): The Unified Payments Interface (UPI) saw 31 per cent transaction count growth (year-on-year) at 19.63 billion in the month of September — with 21 per cent growth in transaction amount at Rs 24.90 lakh crore, the National Payments Corporation of India (NPCI) data showed on Wednesday. Month-wise too, UPI witnessed a growth in transaction amount, from Rs 24.85 lakh crore in August.

Average daily transaction amount in September stood at Rs 82,991 crore, a rise from Rs 80,177 crore in August, the NPCI data showed. The month of September recorded 654 million average daily transaction counts, up from 645 million registered in August. In August, the UPI transactions had crossed 20 billion for the first time in its history. UPI had earlier achieved a record of crossing 700 million transactions in a single day on August 2.

This milestone comes on the back of steady growth over the past few months. The surge in August came despite the ban on real money gaming platforms. Meanwhile, the NPCI has raised the UPI transaction limits for person-to-merchant (P2M) payments to up to Rs 10 lakh in 24 hours for specified categories. The move seeks to facilitate larger payments in key sectors and enhance digital adoption in high-value segments.

The NPCI maintained the person-to-person (P2P) limit at Rs 1 lakh per day. Earlier users often encountered restrictions, forcing them to split payments or revert to traditional methods like cheques or bank transfers. Under the revised framework, capital market and insurance payments, the per-transaction limit has been hiked from Rs 2 lakh to Rs 5 lakh, with a daily limit of Rs 10 lakh. Government e-Marketplace transaction limit, including earnest money deposits and taxes, have been increased to Rs 5 lakh per transaction, up from Rs 1 lakh.

Per-transaction limits for travel bookings, loan repayments, and EMI collections have also been increased to Rs 5 lakh from Rs 1 lakh. Credit card bill payments too are permitted for up to Rs 5 lakh in a single transaction, though the 24-hour limit is set at Rs 6 lakh. For loan and EMI collections, users can now pay Rs 5 lakh per transaction with a daily total of Rs 10 lakh.

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