The Unified Payments Interface (UPI) reached a significant milestone in March 2026, processing a record-breaking 22.64 billion transactions. This marked a notable increase from February’s 20.39 billion transactions, representing the highest monthly figure recorded by UPI since its inception in 2016, surpassing the previous high of 21.70 billion transactions in January.
The surge in transaction volume also saw a 24% year-on-year growth, indicating the growing adoption and reliance on digital payment solutions. In terms of transaction value, March witnessed a rise to Rs 29.53 lakh crore, compared to Rs 26.84 lakh crore in February, signaling the significant financial impact of UPI transactions.
Despite a marginal increase in the average daily transaction count to 730 million in March and a slight decline in the average daily transaction value, the overall trend showcases the continued dominance of digital payments in the Indian market.
PhonePe maintained its lead in the UPI app market in February, commanding a substantial 45.5% share by volume, followed by Google Pay with around 33% market share and Paytm at approximately 7–8%.
Source: Entrackr : Latest Posts