New Delhi, April 2 Transactions through the Unified Payments Interface (UPI) reached a record high of 22.64 billion in terms of volume in March.
"UPI achieves 22.64 billion transaction count in March'26! Thank you, India, for embracing digital payments and driving this revolution forward. Let's continue the journey of transforming the way we transact!," the Department of Financial Services said in a post on X.
In terms of volume, 22.64 billion transactions were conducted during the month, compared to 18.3 billion a year ago, representing a 24% growth.
The UPI transaction in terms of volume was 20.39 billion recorded in February.
UPI combines ease of use with strong security while following the RBI's two-factor authentication rule. The first factor is the mobile number linked to the user's bank, and the second is the UPI PIN, making transactions quick and safe from unauthorized access.
Today, UPI accounts for 85% of all digital transactions in India. Its impact extends beyond national borders, powering nearly 50% of global real-time digital payments.
UPI is already operational in seven countries, including the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius. Its entry in France is a milestone because it is UPI's first step in Europe. This allows Indians traveling or living there to pay seamlessly without the usual hassles of foreign transactions.
NPCI, an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA), is an umbrella organization for operating retail payments and settlement systems in India.
It operates the UPI used for real-time payments between individuals or at merchants' end while making purchases.