UPI QR codes jumped nearly 9% in Sept 2026: RBI data
According to RBI Payment System Indicators, UPI QR codes deployed in India rose to 885.50 million in September 2026, up from 813.03 million in August. Year-on-year growth reached 14.66% compared to September 2025's 709.06 million. Bharat QR codes totaled 5.34 million, though showing a 12.39% year-on-year decline. Yes Bank dominated UPI QR deployment with 638 million codes (72.05% of reported bank-wise figures), while Axis Bank held 193.71 million.
Key points
- UPI QR codes reached 885.50 million in September 2026
- Monthly growth of 8.91% and YoY growth of 14.66%
- Bharat QR codes declined 12.39% year-over-year to 5.34 million
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