UPI volume rises 27% to touch 145 billion in first half of FY27
This is against UPI volume 114 billion in during the April-September quarter of the previous financial year, according to data released by the National Payments Corporation of India (NPCI).
UPI volume surged 27% in the first half of the current fiscal year, reaching approximately 145 billion transactions, according to data from the National Payments Corporation of India (NPCI). This marked an increase from 114 billion transactions in the previous year's corresponding quarter. Value transactions grew at a slightly lower rate of 20% to Rs 177 lakh crore compared to Rs 148 lakh crore in the first six months of the current financial year.
September saw a minor 1.7% decline in UPI volume to 24.07 billion transactions from 24.5 billion in the previous month, with value transactions also decreasing by 1.5% to Rs 29.37 lakh crore. The decline is attributed to August having 31 days versus September's 30 days, and the higher average transactions per day in September at 802 million compared to 791 million in August.
Effective October 15, a 0.4% merchant discount rate (MDR) will be imposed on high-value UPI payments exceeding Rs 2,000, while person-to-person transactions will remain fee-free.
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