UPI transactions surge 27% annually at 20.39 bn in Feb: NPCI data

The unified payments interface (UPI) saw 27 per cent transaction count growth (year-on-year) at 20.39 billion in the month of February — along with registering 22 per cent annual growth in transaction amount at Rs26.84 lakh crore, the National Payments Corporation of India (NPCI) data showed on Sunday.

Average daily transaction amount in February stood at Rs95,865 crore, up from Rs91,403 crore in January, the NPCI data showed.

The month of February recorded 728 million average daily transaction counts, up from 700 million registered in January.

In January, the UPI had seen 28 per cent transaction count growth (year-on-year) at 21.70 billion — along with registering 21 per cent annual growth in transaction amount at Rs28.33 lakh crore.

Meanwhile, IMPS monthly volumes stood at 336 million in February, with a 14 per cent YoY growth at Rs6.42 lakh crore, and 12 million average daily transaction count.

FASTag monthly volumes stood at 350 million, at Rs6,925 crore which is a 5 per cent annual growth, the data showed.

UPI is now live in over eight countries, including the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius and Qatar, positioning India as a global leader in digital payments.

UPI’s growing international adoption is boosting remittances, promoting financial inclusion, and strengthening India's position in the global fintech landscape.