UPI Registered 2.29 Billion Transactions In February

As per data from the National Payments Corporation of India (NPCI), the total Unified Payments Interface (UPI) transactions in the country stood at 2.29 billion in February compared with 2.30 billion in the previous month.

The total value of transactions on the UPI network stood at Rs 4.25 trillion in February against Rs 4.31 trillion in January.

The month-on-month growth of UPI transactions has been averaging 1%-3% since November 2020 due to the fast adoption of digital payments after the COVID-19 outbreak. The decline in February could be due to fewer days in the month than January.

Meanwhile, FASTag transactions in the country showed steady growth climbing to 159 million transactions in February, compared with 148.5 million transactions in January, NPCI data stated. The value of FASTag transactions grew by 6%, month on month.

In February, Union minister of road transport Nitin Gadkari, too, made it clear that there will be no more extension for FASTag implementation at tolls across the country after the end of the deadline on 15 February.