UPI Transactions Rise 5.8% MoM To Record 25.47 Bn In October

UPI transaction volume surged 5.8% month-over-month to a record 25.47 billion in October, as reported by the National Payments Corporation of India (NPCI). This marks the first time UPI processed more than 25 billion transactions in a single month, with total payment value reaching over ₹30 lakh crore. The value of UPI transactions grew 7.4% MoM to ₹31.53 lakh crore, reflecting a 23% increase year-over-year.

Average daily transaction volume reached 822 million, up from 802 million in September, while the average daily transaction value rose to ₹1,01,707 crore from ₹97,913 crore. Merchants should prepare for the upcoming introduction of merchant discount rate (MDR) charges on select UPI payments above ₹2,000, with a cap of ₹300 on transactions exceeding ₹75,000.