UPI hits record 23.2B transactions worth ₹29.9 trillion in May on summer travel, IPL spend

May UPI volumes rose 4% MoM to 23.20 billion transactions; value climbed 3% to ₹29.90 trillion. Daily run-rate hit 748 million transactions and ₹96,465 crore. PhonePe holds 46.2% volume share, Google Pay 33%, Paytm 8%. Average ticket size has shrunk to ₹1,313 from ₹1,848 in 2021 as UPI penetrates everyday and quick-commerce spend.

— Source publishedMon, 1 Jun, 2026, 20:29 IST·First seen Mon, 1 Jun, 2026, 20:36 IST·Source The Hindu BusinessLine

What happened

UPI hit record 23.20 billion transactions worth ₹29.90 trillion in May, up 4% and 3% MoM, driven by summer travel and IPL spending. PhonePe leads with 46.2%

Key facts

  • ₹29.90 trillion May value
  • 23.20 billion May volume
  • 3% MoM value growth
  • 4% MoM volume growth
  • 748 million daily transactions
  • ₹96,465 crore daily value
  • PhonePe 46.2% volume share
  • Google Pay 33% volume share
  • Paytm 8% share
  • 713 banks live
  • ticket size ₹1,313 in 2025 vs ₹1,848 in 2021

Why this matters

The ₹1,313 average ticket size signals UPI's deep penetration into everyday spend, opening M&A opportunities in quick-commerce, micro-merchant acquiring, and payment-adjacent loyalty plays.

Also reported by