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Marginal decline in UPI transactions in Feb 2017


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The Unified Payment Interface (UPI) saw a 4% decline in the total transaction volumes taking place between January and February 2017, while the amount transacted increased by 12% on a monthly basis to Rs 1,902.8 crore, according to data published by the National Payments Corporation of India, a company which is owned by Indian banks, and owns and operates payments systems such as UPI and IMPS.

Some observations:

1. In February 2017, average amount per transaction on UPI went up by 16% to Rs 4,422 on monthly basis since – highest in October 2016.


2. Number of Banks on UPI increased to 44 Banks. There were only 25 banks six months ago.


3. Number of transactions went down by 0.16 million in February 2017 whereas the total amount transacted increased by Rs 203.8 crore. In the previous month, volume and amount of transactions had increased by 2.47 million and Rs 990 crore respectively.

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  • Thank you so much for sharing your Experience.

  • Gonecase

    31 days of January vs 28 days of February… Reduction in transaction volume by 4% is actually an increase, isn’t it? Still it is performing far better than other modes (including wallets) which declined in volume and value terms in February… Interestingly, in the first 12 days of March, UPI has again grown significantly in value and volume terms…

    • nitish pandey

      Such a simple and powerful point. All they have to say is thanks for sharing your experience. Dumb twice😊

      • Gonecase

        Thanks. The sharing of experience is a different and unrelated comment :). Probably spam!