UPI volume growth rate dropped by 10 percentage points in the first four months of FY27, as debates over Merchant Discount Rate (MDR) for high-value transactions intensify.
UPI transactions have slowed down by 10 percentage points
Aug 10, 2026
11:26 am
What's the storyThe growth rate of Unified Payments Interface (UPI) transactions has slowed down by 10 percentage points in the first four months of FY27, compared to the same period last year.
The data from the National Payments Corporation of India (NPCI), which runs UPI, shows that there were 92 billion transactions between April and July this year.
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Unified Payments Interface (UPI) transactions saw a slight dip in June, reaching Rs 28.9 lakh crore, down from May's record high.…
UPI transactions dipped to Rs 28.9 lakh crore in June, reflecting significant growth in India's digital payments ecosystem.
After touching a record high of Rs 29.9 lakh crore in May, UPI transactions eased to Rs 28.9 lakh crore in June.
UPI transactions soared to ₹29.9 lakh crore in July 2026, marking a significant milestone in India's digital payment revolution.
India's UPI saw a slight dip in June's transaction volume and value compared to May's record, processing 22.72 billion…
India's Unified Payments Interface (UPI) continued its upward trajectory in July, clocking its highest-ever monthly transaction…
