Unified Payments Interface (UPI) transactions scaled a new record in May 2026, with both transaction value and volume reaching all-time highs, aided by increased spending during the summer travel season and heightened activity around the IPL.

According to data released by the National Payments Corporation of India (NPCI), the value of UPI transactions rose to Rs 29.90 lakh crore during the month, up from Rs 29.03 lakh crore in April. On a year-on-year basis, transaction value registered a growth of 19 per cent compared with Rs 25.14 lakh crore recorded in May last year.

Transaction volumes also hit a fresh peak, reaching 23.2 billion in May, representing a 24 per cent increase from 18.67 billion transactions in the corresponding period a year ago.

The latest figures highlight the continued rapid adoption of digital payments in India, with UPI maintaining its position as the country's dominant real-time payment platform.