India, June 1 -- UPI transactions rose 3.8% MoM to 23.20 Bn in May 2026 from 22.35 Bn in April. As per NPCI data, the total transaction value also inched up 3% to Rs.29.90 Lakh Cr from Rs.29.03 Lakh Cr in the previous month.

On a YoY basis, volumes zoomed 24% from 18.71 Bn transactions and transaction value jumped 19% from Rs.25.10 Lakh Cr.

Average daily activity in May showed steady usage trends. Transaction count rose slightly to 748 Mn from 745 Mn in April, up around 0.4%. However, average daily transaction value edged down to Rs.96,465 Cr from Rs.96,766 Cr, a decline of about 0.3%.

While the data for UPI app players' performance in May will be released after a few weeks, PhonePe and Google Pay continued to lead the sector in April....