UPI clocks record 728 million daily transactions in February
Data released by National Payments Corporation of India shows that Unified Payments Interface recorded 20.39 billion transactions worth ₹26.84 lakh crore in February 2026, underscoring its dominance in India’s digital payments ecosystem. (Image: DC)
Mumbai: India’s retail payment infrastructure-the Unified Payments Interface (UPI) continued its rapid expansion in February with average daily transaction volumes rising to 728 million in February, the highest level since the platform’s launch. Daily transaction value also climbed sharply, nearing the significant Rs one lakh crore mark.
Data released by the National Payments Corporation of India (NPCI) on Sunday showed that UPI recorded 20.39 billion transactions in February 2026, down from 21.70 billion transactions in January. Despite the month-on-month decline, transaction volumes increased 27 per cent year-on-year. The sequential decline was mainly due to February having fewer days than January.
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 per cent sequential decline. On an annual basis, transaction value rose 22 per cent year on year.
Akash Sinha Co-founder & CEO, Cashfree Payments said, “The February UPI figures with 20.39 billion transactions and ₹26.84 lakh crore in value, reaffirm UPI’s position as the backbone of India’s digital economy. While there is a marginal moderation month-on-month, the consistency at this scale signals structural permanence. UPI is no longer a growth story; it is now core infrastructure.”
As UPI accounts for nearly half of global real-time transactions, the conversation is shifting from access to optimization. The next phase of evolution will be defined by reliability at scale, seamless merchant adoption of new capabilities, and innovation-led use cases,” added Sinha.
( Source : Deccan Chronicle )
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