Fintech Brief — July 02, 2026

UPI Processes 22.72 Billion Transactions In June, Hits Record Daily Average

The Unified Payments Interface processed 22.72 billion transactions worth ₹28.92 lakh crore in June 2026, according to data released by the National Payments Corporation of India (NPCI). While total monthly volume dipped 2.1% from May’s record 23.2 billion, the average daily transaction count climbed to an all-time high of 757 million — up from 748 million in May.

Year-on-year, the numbers remain strong: volume grew 23% and value grew 20% compared to June 2025. June had 30 days versus May’s 31, which partly explains the lower aggregate despite higher daily throughput. The value figure of ₹28.92 lakh crore came in below May’s peak of ₹29.90 lakh crore but continued the platform’s sustained trajectory above ₹24 lakh crore monthly.

UPI’s resilience underscores its status as the backbone of India’s digital payments ecosystem, with everyday micro-transactions now almost entirely shifted to real-time digital rails.

Source: NPCI via ETBFSI, Entrackr

RBI’s Integrated Ombudsman Scheme 2026 Goes Live

The Reserve Bank of India’s Integrated Ombudsman Scheme, 2026 (RB-IOS) came into effect on July 1, replacing the 2021 scheme. The framework provides a cost-free, expeditious, and non-adversarial mechanism for customer complaints involving deficiency in service by regulated entities — covering banks, NBFCs, and payment system operators.

Complaints received before July 1, 2026, and appeals arising from decisions under the older 2021 scheme will continue to be governed by the previous framework. The updated scheme is part of RBI’s ongoing efforts to strengthen consumer protection in India’s financial sector.

Source: RBI

Banking Infra Startup Spense Raises $2.8 Mn Seed Round

Banking infrastructure startup Spense has raised $2.8 million in seed funding led by Arkam Ventures. The startup is building credit infrastructure to enhance credit card and credit line offerings — targeting the plumbing layer that connects issuers, lenders, and end consumers.

The round signals continued investor interest in fintech infrastructure plays that address gaps in India’s credit distribution plumbing, even as broader funding sentiment remains cautious.

Source: ET via Entrackr

Fintech Leads H1 2026 Funding At $1.3 Bn Across 48 Deals

Indian startups raised approximately $7.4 billion across 551 disclosed deals in H1 2026, according to Entrackr’s funding report. Fintech emerged as the top-funded sector, attracting $1.3 billion across 48 deals — the highest capital allocation among all sectors. Ecommerce followed with $779 million across 112 deals, while AI startups raised $676 million across 57 deals.

Per Inc42’s parallel estimate ($5.2 billion excluding some large deals), late-stage funding fell 27% year-on-year while growth-stage and seed-stage rounds saw 15% and 18% increases respectively. The half was punctuated by CRED’s $900 million raise from Meta and the appointment of founder Kunal Shah as WhatsApp’s Global CEO.

Source: Entrackr Report, Inc42