# UPI transactions hit record ₹29.9 lakh crore in July 2026

2026-08-06T21:52:43+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 1 independent outlet

UPI transactions in July 2026 crossed ₹29.88 lakh crore in value, up 19% from a year ago, with 23.66 billion transactions, the National Payments Corporation of India data shows. This beats May's record of ₹29.9 lakh crore. Meanwhile, the government is considering legal changes to allow merchant fees on UPI payments above Rs 2,000, sparking debate. SBI chairman CS Setty told the Times of India that banks cannot isolate UPI-specific costs as most infrastructure is shared. Fintech executives say costs for IT, innovation, and cyber security have risen nearly 300% in 12, 24 months, and expect merchant discount rates of 0.05, 0.07% for large shops.

## Coverage

- government.economictimes.indiatimes.com <https://government.economictimes.indiatimes.com/news/digital-payments/upi-transactions-reach-record-high-of-29-9-lakh-cr-in-july/132803907>
- timesofindia.indiatimes.com <https://timesofindia.indiatimes.com/business/india-business/upi-infra-mostly-shared-costs-cant-be-singled-out/articleshow/133045128.cms>

Tags: digital payments, fintech, India, NPCI, UPI
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