UPI Sets New Monthly Record With 21.7 Billion Transactions in January

Continuing its strong growth, UPI recorded 21.7 billion transactions worth ₹28.33 lakh crore in January. This was slightly higher than December’s 21.6 billion transactions worth ₹27.97 lakh crore which marking a new all-time high.

According to NPCI data, the daily average number of transactions rose to 700 million in January from 698 million in December. The average daily transaction value during the month was ₹91,403 crore.

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UPI transactions hit a record high of 22,000 crore transactions worth ₹299.76 lakh crore last year. While PhonePe and google Pay continued to dominate the UPI market, 2025 also saw smaller players like Navi, CRED, and super.money increase their transactions and market share.

Earlier in January, RBI Deputy Governor T. Rabi Sankar said that UPI’s user base could cross 100 crore active users in the coming years, up from about 40 crore at present.

Outside India, UPI is steadily expanding globally. It is already available in countries like Singapore, the UAE, Nepal, Bhutan, Sri Lanka, Mauritius, and France. NPCI is also working to launch UPI in more countries, including the UK, Australia, and parts of Southeast Asia and the Middle East.

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