wordpress blog stats
Connect with us

Hi, what are you looking for?

Number of UPI transactions grew to 1.32 billion in Feb 2020, Rs 2,21,995 crore transacted

Freecharge UPI

Unified Payment Interface (UPI) saw an increase of 1.4% in the total transaction volumes between January and February 2020, according to data published by the National Payments Corporation of India (NPCI). For the same period, the amount transacted went up by 2.7%. NPCI is a private company owned by Indian banks, it owns and operates important payments systems such as UPI and IMPS.

The total number of transactions in February 2020 was around 1.96 times higher than in the same month last year. The amount transacted went up to Rs 2,21,995 crore. The amount transacted in February 2020 was 2.1 times as compared to amount in February 2019. However, given the limited impact of seasonality on digital payments, and the fact that this is supposed to be a high growth sector, month-on-month data needs to be looked at.

Some observations

1. Although the amount transacted has been on increase, the total number of transactions between January and February 2020 saw only an incremental increase. Therefore, a hike in average amount per day can be seen for February.

2. The number of transactions increased by 18.3 million in February, whereas the total amount transacted went up by Rs 5,752.5 crores. In the previous month (January 2020), volume had decreased by 3.4 million and the amount transacted had grown by Rs 13,722 crores.

3. The average amount per transaction increased to Rs 1,678 for February 2020 with an increase in the total amount transacted. The average has been trending up since November 2019.For the last 12 months, it has stayed north of Rs 1,500.

4. The number of banks on UPI increased to 146 in February 2020.

Advertisement. Scroll to continue reading.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



The Delhi High Court should quash the government's order to block Tanul Thakur's website in light of the Shreya Singhal verdict by the Supreme...


Releasing the policy is akin to putting the proverbial 'cart before the horse'.


The industry's growth is being weighed down by taxation and legal uncertainty.


Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.


Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.

You May Also Like


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ