In July 2023, UPI transactions reached a new high of 996 crore, a 6% increase from 934 crore in June. The value of transactions also reached a new high, rising 4% from June to Rs 15.34 lakh crore.

Every three days, the payments system processes nearly 1 billion (100 crore) UPI transactions. NPCI CEO Dilip Asbe previously stated that the company was preparing to handle billions of transactions per day within two to three years.

Year on year, UPI transactions increased by 58% in volume and 44% in value. The next significant increase, according to payments industry experts, is expected in the third quarter, when festivals congregate and consumption peaks.