{
  "format": "india-by-the-numbers.series.v1",
  "id": "payments/network",
  "name": "UPI transactions",
  "hub": "Payments",
  "topic": "UPI network",
  "moduleIds": [
    "network",
    "monthly-volume"
  ],
  "url": "https://data.indiadispatch.com/payments/upi-transactions",
  "period": "September 2026",
  "periodKey": "2026-09",
  "latest": {
    "formattedValue": "24.07 billion",
    "change": "−1.8% since August 2026",
    "supportingFigures": "UPI is India’s shared instant-payments network. It moved ₹29.37 trillion · $309 billion in September 2026, across transfers and merchant payments. Value moved: ₹29.37 trillion · $309 billion.",
    "inr": 29373966700000,
    "inrLabel": "Value moved",
    "usd": 308614905442.31976
  },
  "source": {
    "name": "National Payments Corporation of India",
    "url": "https://www.npci.org.in/product/upi/product-statistics"
  },
  "numericValue": 24068380000,
  "unit": "transactions",
  "measure": "volume_million",
  "readingLabel": "UPI network transactions",
  "readingValue": "24.07 billion transactions",
  "comparison": {
    "status": "compared",
    "method": "percent-change",
    "value": -1.7976282959374812,
    "unit": "percent",
    "measure": "volume_million",
    "observationPeriod": "2026-09",
    "comparatorPeriod": "2026-08",
    "text": "−1.8% since August 2026"
  },
  "currencyValuation": {
    "basis": "converted-from-INR",
    "reference": {
      "rate": 95.18,
      "date": "2026-10-26",
      "provider": "ECB reference via Frankfurter",
      "sourceUrl": "https://api.frankfurter.dev/v1/latest?base=USD&symbols=INR"
    },
    "historicalRate": false
  },
  "cadence": "Monthly",
  "version": "e9e33f3fe767d0e02d567e370c64cb18de700e08f9f1d00c9fb52de0b322f490",
  "dateModified": "2026-10-27T15:28:51.868Z",
  "coverage": "2022-10/2026-09",
  "notes": [
    "−1.8% compared with August 2026.",
    "+6.3% compared with March 2026.",
    "+22.6% compared with September 2025.",
    "Transaction value measures money moved, not consumer spending. The same money can move more than once.",
    "756 banks were live in September 2026. The bank-count date can differ from the transaction month."
  ],
  "license": {
    "name": "Creative Commons Attribution 4.0 International",
    "url": "https://creativecommons.org/licenses/by/4.0/",
    "scope": "India Dispatch's original compiled tables and editorial text"
  },
  "sourceRights": "Underlying source publishers retain their own rights. This license does not grant rights to publisher documents, branding or other third-party material.",
  "attribution": "India by the numbers, UPI transactions, September 2026, https://data.indiadispatch.com/payments/upi-transactions. Source: National Payments Corporation of India.",
  "valueRepresentation": "Table cells are the publication's formatted observations, with units retained. Missing observations are not zero. Numeric latest amounts, where present, are separately labelled INR and USD.",
  "tables": [
    {
      "title": "Monthly transaction volume and value",
      "columns": [
        "Month",
        "Transactions",
        "Value moved"
      ],
      "rows": [
        {
          "id": "2022-10",
          "cells": [
            "October 2022",
            "7.31 billion",
            "₹12.12 trillion · $127 billion"
          ]
        },
        {
          "id": "2022-11",
          "cells": [
            "November 2022",
            "7.31 billion",
            "₹11.91 trillion · $125 billion"
          ]
        },
        {
          "id": "2022-12",
          "cells": [
            "December 2022",
            "7.83 billion",
            "₹12.82 trillion · $135 billion"
          ]
        },
        {
          "id": "2023-01",
          "cells": [
            "January 2023",
            "8.04 billion",
            "₹12.99 trillion · $136 billion"
          ]
        },
        {
          "id": "2023-02",
          "cells": [
            "February 2023",
            "7.53 billion",
            "₹12.36 trillion · $130 billion"
          ]
        },
        {
          "id": "2023-03",
          "cells": [
            "March 2023",
            "8.69 billion",
            "₹14.1 trillion · $148 billion"
          ]
        },
        {
          "id": "2023-04",
          "cells": [
            "April 2023",
            "8.9 billion",
            "₹14.08 trillion · $148 billion"
          ]
        },
        {
          "id": "2023-05",
          "cells": [
            "May 2023",
            "9.42 billion",
            "₹14.89 trillion · $156 billion"
          ]
        },
        {
          "id": "2023-06",
          "cells": [
            "June 2023",
            "9.34 billion",
            "₹14.75 trillion · $155 billion"
          ]
        },
        {
          "id": "2023-07",
          "cells": [
            "July 2023",
            "9.96 billion",
            "₹15.34 trillion · $161 billion"
          ]
        },
        {
          "id": "2023-08",
          "cells": [
            "August 2023",
            "10.59 billion",
            "₹15.77 trillion · $166 billion"
          ]
        },
        {
          "id": "2023-09",
          "cells": [
            "September 2023",
            "10.56 billion",
            "₹15.79 trillion · $166 billion"
          ]
        },
        {
          "id": "2023-10",
          "cells": [
            "October 2023",
            "11.41 billion",
            "₹17.16 trillion · $180 billion"
          ]
        },
        {
          "id": "2023-11",
          "cells": [
            "November 2023",
            "11.24 billion",
            "₹17.4 trillion · $183 billion"
          ]
        },
        {
          "id": "2023-12",
          "cells": [
            "December 2023",
            "12.02 billion",
            "₹18.23 trillion · $192 billion"
          ]
        },
        {
          "id": "2024-01",
          "cells": [
            "January 2024",
            "12.2 billion",
            "₹18.41 trillion · $193 billion"
          ]
        },
        {
          "id": "2024-02",
          "cells": [
            "February 2024",
            "12.1 billion",
            "₹18.28 trillion · $192 billion"
          ]
        },
        {
          "id": "2024-03",
          "cells": [
            "March 2024",
            "13.44 billion",
            "₹19.78 trillion · $208 billion"
          ]
        },
        {
          "id": "2024-04",
          "cells": [
            "April 2024",
            "13.3 billion",
            "₹19.64 trillion · $206 billion"
          ]
        },
        {
          "id": "2024-05",
          "cells": [
            "May 2024",
            "14.04 billion",
            "₹20.45 trillion · $215 billion"
          ]
        },
        {
          "id": "2024-06",
          "cells": [
            "June 2024",
            "13.89 billion",
            "₹20.07 trillion · $211 billion"
          ]
        },
        {
          "id": "2024-07",
          "cells": [
            "July 2024",
            "14.44 billion",
            "₹20.64 trillion · $217 billion"
          ]
        },
        {
          "id": "2024-08",
          "cells": [
            "August 2024",
            "14.96 billion",
            "₹20.61 trillion · $217 billion"
          ]
        },
        {
          "id": "2024-09",
          "cells": [
            "September 2024",
            "15.04 billion",
            "₹20.64 trillion · $217 billion"
          ]
        },
        {
          "id": "2024-10",
          "cells": [
            "October 2024",
            "16.58 billion",
            "₹23.5 trillion · $247 billion"
          ]
        },
        {
          "id": "2024-11",
          "cells": [
            "November 2024",
            "15.48 billion",
            "₹21.55 trillion · $226 billion"
          ]
        },
        {
          "id": "2024-12",
          "cells": [
            "December 2024",
            "16.73 billion",
            "₹23.25 trillion · $244 billion"
          ]
        },
        {
          "id": "2025-01",
          "cells": [
            "January 2025",
            "17 billion",
            "₹23.48 trillion · $247 billion"
          ]
        },
        {
          "id": "2025-02",
          "cells": [
            "February 2025",
            "16.11 billion",
            "₹21.96 trillion · $231 billion"
          ]
        },
        {
          "id": "2025-03",
          "cells": [
            "March 2025",
            "18.3 billion",
            "₹24.77 trillion · $260 billion"
          ]
        },
        {
          "id": "2025-04",
          "cells": [
            "April 2025",
            "17.89 billion",
            "₹23.95 trillion · $252 billion"
          ]
        },
        {
          "id": "2025-05",
          "cells": [
            "May 2025",
            "18.68 billion",
            "₹25.14 trillion · $264 billion"
          ]
        },
        {
          "id": "2025-06",
          "cells": [
            "June 2025",
            "18.4 billion",
            "₹24.04 trillion · $253 billion"
          ]
        },
        {
          "id": "2025-07",
          "cells": [
            "July 2025",
            "19.47 billion",
            "₹25.08 trillion · $264 billion"
          ]
        },
        {
          "id": "2025-08",
          "cells": [
            "August 2025",
            "20.01 billion",
            "₹24.85 trillion · $261 billion"
          ]
        },
        {
          "id": "2025-09",
          "cells": [
            "September 2025",
            "19.63 billion",
            "₹24.9 trillion · $262 billion"
          ]
        },
        {
          "id": "2025-10",
          "cells": [
            "October 2025",
            "20.7 billion",
            "₹27.28 trillion · $287 billion"
          ]
        },
        {
          "id": "2025-11",
          "cells": [
            "November 2025",
            "20.47 billion",
            "₹26.32 trillion · $276 billion"
          ]
        },
        {
          "id": "2025-12",
          "cells": [
            "December 2025",
            "21.63 billion",
            "₹27.97 trillion · $294 billion"
          ]
        },
        {
          "id": "2026-01",
          "cells": [
            "January 2026",
            "21.7 billion",
            "₹28.33 trillion · $298 billion"
          ]
        },
        {
          "id": "2026-02",
          "cells": [
            "February 2026",
            "20.39 billion",
            "₹26.84 trillion · $282 billion"
          ]
        },
        {
          "id": "2026-03",
          "cells": [
            "March 2026",
            "22.64 billion",
            "₹29.53 trillion · $310 billion"
          ]
        },
        {
          "id": "2026-04",
          "cells": [
            "April 2026",
            "22.35 billion",
            "₹29.03 trillion · $305 billion"
          ]
        },
        {
          "id": "2026-05",
          "cells": [
            "May 2026",
            "23.2 billion",
            "₹29.9 trillion · $314 billion"
          ]
        },
        {
          "id": "2026-06",
          "cells": [
            "June 2026",
            "22.72 billion",
            "₹28.92 trillion · $304 billion"
          ]
        },
        {
          "id": "2026-07",
          "cells": [
            "July 2026",
            "23.66 billion",
            "₹29.88 trillion · $314 billion"
          ]
        },
        {
          "id": "2026-08",
          "cells": [
            "August 2026",
            "24.51 billion",
            "₹29.82 trillion · $313 billion"
          ]
        },
        {
          "id": "2026-09",
          "cells": [
            "September 2026",
            "24.07 billion",
            "₹29.37 trillion · $309 billion"
          ]
        }
      ]
    }
  ],
  "downloads": {
    "json": "https://data.indiadispatch.com/data/series/payments/upi-transactions.json",
    "csv": "https://data.indiadispatch.com/data/series/payments/upi-transactions.csv"
  },
  "publicationArchive": "https://data.indiadispatch.com/archive/payments/upi-transactions"
}