UPI transactions grow to 171 mn in Feb, Paytm claims 40% share

The number of transactions on Unified Payments Interfaces just keeps increasing month after month

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Unified payments interfaces are platforms that make wireless money transfers between bank accounts possible using mobile phones. They continue their growth for the month of February, showing around 171.4 mil transactions which are an increase of 13.5% as compared to January, as based on information released by National Payments Corporation of India.

Paytm personally took credit for 60 mil transactions on UPI taking claim to 40% of the total UPI transactions. According to the stats, Paytm recorded 37-million UPI transactions in December and 51.2 million in January, which goes back to showing a constant increase in the number of transactions. Google, on the other hand, did not share their exact numbers but stated that Google’s Tez, had about 250 mil transactions since their beginning in September.

February was a major milestone for UPI since it was greatly criticised post the launch of Whatsapp’s beta version for UPI payments.

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