UPI registers 2.29 billion transactions worth Rs 4.25 trillion in Feb

This is up 73% by volume and 90% by value YoY; FASTag touches all-time high by both volume and value

Unified Payment Interface (UPI), the flagship payments platform of the National Payments Corporation of India (NPCI), recorded 2.29 billion transactions worth Rs 4.25 trillion in February. Sequentially, the transactions dipped 0.42 per cent by volume and 1.39 per cent by value over January because of the fewer number of days in February.
 

However, year-on-year, the transactions were up 73 per cent by volume and more than 90 per cent by value. Immediate Payments Service (IMPS), recorded a contraction in both volume and value of transactions in the past two months. In February, it clocked 318.79 million transactions worth Rs 2.75 trillion. FASTag, on the other hand, has touched an all-time high both in volume and value terms, with 158.96 million transactions worth Rs 2,556.34 crore in February.
 

As far as Bharat Bill Payment System (BBPS) is concerned, it has seen a steady rise in transactions since May last year. Since then, BBPS transactions have grown 70 per cent to 28.23 million worth Rs 4,222.39 crore.