UPI Transactions Rise by 27% Year-On-Year, Reaching 20.39 Billion in February
Synopsis
In February, UPI transactions saw a significant annual increase of 27%, reaching 20.39 billion, with a total transaction value of Rs 26.84 lakh crore. This growth underscores UPI's dominance in India's digital payment landscape, surpassing cash transactions and expanding internationally.
Key Takeaways
27% growth in UPI transaction counts year-on-year.
UPI transactions reached 20.39 billion in February.
Total transaction value of Rs 26.84 lakh crore .
UPI is now active in over eight countries .
UPI has become the preferred payment method in India.
New Delhi, March 1 (NationPress) The Unified Payments Interface (UPI) experienced a remarkable 27% year-on-year growth in transaction volume, reaching 20.39 billion in February. Additionally, the transaction amount surged by 22% annually to Rs 26.84 lakh crore, as reported by the National Payments Corporation of India (NPCI) on Sunday.
The average daily transaction value for February was Rs 95,865 crore, an increase from Rs 91,403 crore recorded in January. The month saw an average of 728 million daily transactions, up from 700 million in January.
In January, UPI had already marked a 28% growth in transaction counts, totaling 21.70 billion, with a 21% increase in transaction amounts to Rs 28.33 lakh crore.
Meanwhile, the Immediate Payment Service (IMPS) recorded 336 million monthly transactions in February, reflecting a 14% year-on-year growth with a total transaction value of Rs 6.42 lakh crore and an average of 12 million transactions daily.
FASTag also saw monthly volumes of 350 million transactions, with a total value of Rs 6,925 crore, marking a 5% annual growth.
Currently, UPI is operational in over eight countries, including the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius, and Qatar, establishing India as a global leader in digital payments. The international adoption of UPI is enhancing remittance flows, encouraging financial inclusion, and solidifying India's role in the global fintech arena.
Just last week, India and Israel announced plans to strengthen their digital and financial collaboration by facilitating cross-border transactions via UPI, integrating it with Israel's domestic payment system to streamline digital transactions.
According to an independent study commissioned by India's Finance Ministry, UPI has emerged as the preferred payment method, accounting for 57% of total payment transactions in India, surpassing cash transactions at 38%, largely due to its user-friendly nature and instant fund transfer capabilities.
Point of View
It’s crucial to highlight the transformative impact of UPI on India’s digital economy. The recent growth in transaction volumes not only reflects increasing consumer trust but also positions India as a pioneer in global digital payments. The collaboration with Israel to enhance UPI’s cross-border capabilities further cements this trend.
NationPress
12 May 2026
Frequently Asked Questions
How much did UPI transactions grow in February?
UPI transactions grew by 27% year-on-year, reaching 20.39 billion transactions in February.
What is the total transaction amount for UPI in February?
The total transaction amount for UPI in February was Rs 26.84 lakh crore.
How does UPI compare to cash transactions?
UPI accounts for 57% of total payment transactions in India, surpassing cash transactions which account for 38%.
In how many countries is UPI operational?
UPI is currently operational in over eight countries, including the UAE and Singapore.
