NPCI Reports 27 Pc Annual Surge In UPI Transactions To 20.39 Billion In February

Unified Payments Interface (UPI) transactions rose 27 per cent year-on-year to 20.39 billion in February, according to data released on Sunday by the National Payments Corporation of India (NPCI).

The transaction value also recorded a 22 per cent annual increase, reaching Rs 26.84 lakh crore during the month.

Average daily transaction value in February stood at Rs 95,865 crore, up from Rs 91,403 crore in January. The average daily transaction count rose to 728 million, compared to 700 million in January.

In January, UPI had registered 21.70 billion transactions, reflecting a 28 per cent year-on-year increase, with transaction value growing 21 per cent to Rs 28.33 lakh crore.

Meanwhile, Immediate Payment Service (IMPS) recorded monthly volumes of 336 million transactions in February, marking a 14 per cent year-on-year growth in value at Rs 6.42 lakh crore, with an average daily transaction count of 12 million.

FASTag monthly volumes reached 350 million transactions, amounting to Rs 6,925 crore, reflecting a 5 per cent annual growth.

Global Expansion And Digital Dominance

UPI is now operational in more than eight countries, including the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius, and Qatar, strengthening India’s position in the global digital payments landscape. The platform’s international expansion is aiding remittances, promoting financial inclusion, and enhancing cross-border payment efficiency.

Last week, India and Israel agreed to deepen their digital and financial partnership by enabling cross-border use of UPI. The system will connect with Israel’s domestic payments framework to facilitate faster and more affordable digital transactions.

According to an independent study commissioned by the Finance Ministry, UPI has emerged as the most preferred payment mode in India, accounting for 57 per cent of total payment transactions. Cash transactions accounted for 38 per cent, with UPI’s ease of use and instant fund transfer capabilities cited as key drivers of its widespread adoption.