Stories
UPI Transactions Soar 27% to 145 Billion in First Half of FY27
- •UPI transaction volume increased by 27% to 145 billion in the first half of the current fiscal year, compared to 114 billion in the same period last year.
- •The value of UPI transactions rose by 20% to Rs 177 lakh crore, up from Rs 148 lakh crore in the first six months of the previous financial year.
- •In September, UPI volume moderated by 1.7% to 24.07 billion, and value declined by 1.5% to Rs 29.37 lakh crore month-on-month.
- •A new 0.4% merchant discount rate (MDR) will be levied on UPI transactions over Rs 2,000 for merchants, effective October 15, to create a sustainable revenue framework.
- •UPI is now accepted in 11 countries, including Singapore, UAE, France, and the latest addition, Uzbekistan, significantly expanding its global reach.
Key Questions Answered
In the first half of FY27, UPI transaction volume rose by 27 per cent to reach approximately 145 billion, compared to 114 billion during the same period in the previous financial year. Meanwhile, the transaction value increased by 20 per cent to Rs 177 lakh crore, up from Rs 148 lakh crore.
Effective October 15, a 0.4 per cent merchant discount rate will be levied on merchants for UPI transactions exceeding Rs 2,000. Person-to-person payments remain completely free, and small merchants collecting up to Rs 1 lakh a month via QR codes are fully exempt.
UPI is currently accepted in 11 countries, with Uzbekistan being the latest entry alongside Singapore, the United Arab Emirates, France, Mauritius, Nepal, Bhutan, Qatar, Sri Lanka, Cambodia, and Greece.
