UPI Records 22.6 Billion Transactions in March; Check Which Cities Are Spending Most
UPI shattered records in March 2026 with 22.6 billion transactions worth ₹29.5 lakh cr. While Bengaluru and Delhi lead in volumes, "Bharat" now drives 45% of total traffic. Tier-2 cities like Lucknow and Jaipur are outpacing metros in growth.
- Republic Business
- 2 min read
India’s Unified Payments Interface (UPI) closed the 2025-26 financial year with a massive surge, recording 22.64 billion transactions in March. Data released by the National Payments Corporation of India (NPCI) on Wednesday shows that transaction value touched ₹29.53 lakh crore, a 19% Y-o-Y jump. While metros like Bengaluru and Delhi continue to lead in volume, spending patterns suggest that Tier-2 and Tier-3 cities are now the primary engines of India's digital economy.
Which Cities are Spending the Most?
According to trends and merchant data, Bengaluru retains its title as the 'Digital Payment Capital of India,' leading in high-frequency merchant transactions, particularly in the tech and quick-commerce sectors. New Delhi and Mumbai follow, with the national capital seeing a massive spike in high-value transactions related to year-end tax settlements and luxury retail.
Pune, Hyderabad, and Chennai have closed the gap with the top three metros. More importantly, NPCI noted that small towns are now contributing nearly 45% of total UPI volumes. Cities like Lucknow, Patna, and Jaipur recorded the highest growth rates in Person-to-Merchant transactions this March, driven by festive spending during Holi and Eid.
Daily Peaks
The month of March saw an average of 730 million transactions per day, with a daily value throughput of ₹95,243 crore. This peak was fueled by a 10% month-on-month increase from February, as consumers rushed to complete financial year-end commitments. Average ticket size is stabilizing around ₹1,300, indicating that UPI is no longer just for small "Kirana" payments but is increasingly being used for larger household purchases and travel bookings.
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The platform’s international expansion is also gaining traction. With UPI now operational in seven countries, including the UAE, Singapore, and France, the NPCI is focusing on "Cross-Border Bharat," allowing Indian travelers to spend in Euros and Dirhams. As FY27 begins, the focus is expected to shift toward Credit on UPI.