India’s festive cheer wasn’t just limited to shopping bags and light displays — it reflected strongly in digital payments too. Unified Payments Interface (UPI) transactions touched a new all-time high of 20.7 billion in October, marking a 5.6% month-on-month (MoM) rise, according to fresh data from the National Payments Corporation of India (NPCI).

On a year-on-year (YoY) basis, the transaction volume surged by a healthy 25%, signalling how deeply UPI has become woven into India’s payment habits.

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Festivities Fuel Digital Payment Surge

October’s record surpassed the previous peak of 20.01 billion transactions seen in August. The total value of UPI transactions during the month stood at a whopping INR 27.3 lakh crore, up nearly 10% from INR 24.9 lakh crore in September — a clear reflection of heightened consumer activity during the festive shopping season.

On average, Indians made 668 million UPI transactions every day in October, compared to 654 million in September. The average daily transaction value also jumped to INR 87,993 crore, showing both the scale and trust UPI continues to enjoy across demographics.

PhonePe and Google Pay Continue to Dominate

While NPCI’s detailed app-wise October data is yet to be released, September’s numbers offer a glimpse of the market leaders. PhonePe maintained its top spot with 896 crore transactions worth INR 12.03 lakh crore, commanding a 46.5% market share. Google Pay followed closely, facilitating 683 crore transactions valued at INR 8.7 lakh crore, holding 35.4% of the market.