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UPI volumes dip in February; average daily count rises to 728 Mn

EntrackrEntrackr · 1d ago
UPI volumes dip in February; average daily count rises to 728 Mn
Medial

News All Stories UPI volumes dip in February; average daily count rises to 728 Mn The sequential decline was mainly due to February having fewer days than January, while average daily transaction (count) activity remained steady. UPI recorded 20.39 billion transactions in February 2026, down from 21.70 billion transactions in January, according to data released by the National Payments Corporation of India (NPCI). Despite the month-on-month decline, transaction volumes increased 27% year-on-year. The sequential decline was mainly due to February having fewer days than January, while average daily transaction activity remained steady. In value terms, UPI transactions stood at Rs 26.84 lakh crore in February, compared with Rs 28.33 lakh crore in January. This represents a 5.3% sequential decline. On an annual basis, transaction value rose 22% YoY. The average daily transaction count in February stood at 728 million, higher than 700 million in January. The average daily transaction value increased to Rs 95,865 crore, from Rs 91,403 crore in the previous month. For comparison, UPI processed 21.63 billion transactions worth Rs 27.97 lakh crore in December 2025, making February weaker on both volume and value than the preceding two months. In January, PhonePe remained the leader in the UPI ecosystem with a 45.7% share of total volume and a 48.6% share by value among UPI apps. Google Pay held the second position, accounting for 33.3% of overall transaction volume and 33.8% of total value. Paytm ranked third with 1.66 billion transactions, translating into a 7.7% share by volume and a 6.4% share by value. The breakup data for February has yet to be released.

UPI transactions decline in February but remain strong YoY

EntrackrEntrackr · 1y ago
UPI transactions decline in February but remain strong YoY
Medial

UPI transactions decline in February but remain strong YoY Unified Payments Interface (UPI) recorded 16.11 billion transactions in February 2025, reflecting a slight 5.2% decline from January’s 16.99 billion transactions, according to data released by NPCI. However, on a year-on-year (YoY) basis, UPI transactions surged 33% compared to February 2024. In terms of transaction value, UPI processed Rs 21.96 lakh crore in February, down 6.5% from Rs 23.48 lakh crore in January 2025. Despite the monthly dip, the transaction value witnessed 20% YoY growth. A seasonal dip in February, which has fewer days than January, is a common trend for UPI. The daily transaction average in February stood at 575 million, slightly higher than 548 million in January. The average daily transaction value also increased to Rs 78,446 crore in February from Rs 75,743 crore in January. While UPI transactions saw a slight pullback from the record figures in January, the YoY growth signals a steady upward trend. In January, PhonePe led the chart with 8.1 billion transactions, followed by Google Pay with 6.18 billion, while Paytm secured the third spot, processing 1.15 billion transactions. The monthly breakdown for February has yet to be released. NPCI Chief Dilip Asbe recently revealed that UPI has 450 million users, with 200 million active daily. He emphasized the need for RBI, the government, and financial institutions to support strategies aimed at onboarding 200-300 million more users. NPCI is also set to establish a 5,000-capacity research and development (R&D) center to accelerate innovation in payments technology and strengthen global collaborations.

UPI sets new monthly record with 21.7 Bn transactions in January

EntrackrEntrackr · 28d ago
UPI sets new monthly record with 21.7 Bn transactions in January
Medial

UPI sets new monthly record with 21.7 Bn transactions in January On a year-on-year basis, UPI transaction volumes grew 28% in January, while transaction value increased 21% YoY. In value terms, UPI transactions stood at Rs 28.33 lakh crore. Unified Payments Interface (UPI) sustained its growth momentum in January 2026 and recorded 21.7 billion transactions, compared to 21.63 billion transactions in December 2025, according to data released by the National Payments Corporation of India (NPCI). On a year-on-year basis, UPI transaction volumes grew 28% in January, while transaction value increased 21% YoY. In value terms, UPI transactions stood at Rs 28.33 lakh crore, compared to Rs 27.97 lakh crore in December. The average daily transaction count was 700 million, versus 698 million in the previous month, while the average daily transaction value reached Rs 91,403 crore, compared to Rs 90,217 crore in December. For comparison, UPI had processed 20.47 billion transactions worth Rs 26.32 lakh crore in November 2025. While NPCI is yet to release app-wise data for January 2026, December figures show that PhonePe led the ecosystem with 9.81 billion transactions, accounting for around 45% of total volumes and nearly 49% of transaction value. Google Pay followed with 7.5 billion transactions, while Paytm ranked third with 1.65 billion transactions. Other players such as Navi, super.money and the government-backed BHIM app also contributed, with BHIM overtaking CRED in transaction volumes during the month. Beyond India, UPI continues to expand internationally. The payments system is already live in markets such as Singapore, the UAE, Nepal, Bhutan, Sri Lanka, Mauritius and France, while NPCI works on further expansion to countries including the UK, Australia and select regions in Southeast Asia and the Middle East.

UPI records highest ever monthly transactions at 21.63 Bn in December

EntrackrEntrackr · 2m ago
UPI records highest ever monthly transactions at 21.63 Bn in December
Medial

UPI records highest ever monthly transactions at 21.63 Bn in December. Unified Payments Interface processed 21.63 billion transactions in December 2025, the highest monthly transaction count ever recorded on the platform, with a 29% year on year rise in volumes, according to data released by the National Payments Corporation of India. In value terms, UPI transactions stood at Rs 27.97 lakh crore. The platform handled an average of 698 million transactions per day, while the average daily transaction value was Rs 90,217 crore. On a month on month basis, transaction volumes increased from 20.47 billion in November, while transaction value rose from Rs 26.32 lakh crore. In November, UPI had reported 32% YoY growth in volumes and 22% growth in value, with December surpassing all previous months in terms of transaction count. UPI’s continued scale up has been driven by strong adoption across everyday consumer spends and merchant payments. November data showed higher activity across categories such as groceries, food services, telecom and fuel, indicating deeper penetration of digital payments in routine transactions. App wise data for December is yet to be released. However, November figures showed PhonePe strengthening its leadership position, while Google Pay saw a marginal dip in market share. Paytm remained the third largest player, with smaller apps such as Navi, super.money, Cred and BHIM accounting for an increasing share of overall transaction volumes.

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