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UPI sets a new record with 728M daily transactions
01 Mar 2026

India's Unified Payments Interface (UPI) has set a new record in February, with an average of 728 million daily transactions.

The data was released by the National Payments Corporation of India (NPCI) today.

The spike highlights the increasing importance of digital payments in India's economy.

The total monthly transaction volume for February stood at 20.39 billion, a bit lower than January's 21.7 billion due to fewer calendar days.

Average daily transaction value close to ₹1L crore mark
Financial growth

The average daily transaction value on UPI also saw a major jump in February, coming close to the ₹1 lakh crore mark. In January, it was around ₹91,387 crore.

This shows that despite the shorter month duration, payment flows have strengthened significantly.

The rise in daily usage shows how UPI has evolved from a peer-to-peer payment tool into an integral part of India's consumption economy.

Volume growth at around 26.6% year-on-year in February
Expansion

Back in early 2022, India was averaging some 150 million daily transactions. Now, that number has nearly grown five-fold in about one year.

This shows how UPI has penetrated the market across retail payments, small merchants, utility payments and recurring transactions.

Despite a moderation in year-on-year expansion rates from earlier triple-digit levels, volume growth stood at around 26.6% year-on-year in February while transaction value expanded by over 22%.

Average transaction size stabilizes around ₹1,300
Stabilization

The average transaction size on UPI has stabilized at around ₹1,300 in recent months. This comes after a steady decline between 2022 and 2023. The stabilization shows that UPI growth is now driven more by higher frequency usage than falling ticket sizes.