NPCI registers 2.29 billion UPI transaction in Feb 2021, of these 970 million transactions were processed on PhonePe

Of the total UPI transactions in the month of February, Paytm achieved over 1.2 billion monthly transactions.

In the month of February 2021, National Payments Corporation of India (NPCI) recorded the total Unified Payments Interface (UPI) transactions in India at 2.29 billion as compared to 2.30 billion in January. The total value of transactions on the UPI network stood at from Rs 4.25 trillion in February. In January, the total transactions stood at Rs 4.31 trillion. Of these, PhonePe processed over 970 million UPI transactions, and over 1.07 billion total transactions across UPI, cards and wallets. 

Paytm achieved over 1.2 billion monthly transactions. Paytm has the highest market share in offline merchant payments with 15 percent month-on-month growth. The UPI market is shared by the likes of PhonePe, Google Pay, and the others. Paytm currently has over 150 million monthly active users.

An advertisement of Paytm at a road side stall. Image: Reuters

An advertisement of Paytm at a road side stall. Image: Reuters

Paytm claims more than 50 percent of merchant partners hold a Paytm Payments Bank account to benefit from the new-age digital banking services. Paytm Postpaid provides micro-credit and has already achieved over 7 million users within 6 months of launch.

Paytm offers services like Paytm Payments Bank, Paytm Insurance, Paytm Credit Cards, Paytm Postpaid, and other lending products to help merchants, self-employ individuals, as well as citizens.

NPCI has not yet released the transactions break-up figures for February.

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