UPI Hits New Peak: Daily Transactions Cross 800 Million on March 2; Feb Volumes Up 27%

• Unified Payments Interface (UPI) daily transactions surpassed 800 million for the first time on March 2, setting a new milestone.
• February recorded a 27% year-on-year surge in transaction volume and 20% in value, with a daily average of 728 million transactions.
• March 2 also marked the highest single-day transaction value of Rs 1.31 lakh crore, as per National Payments Corporation of India (NPCI) data.
• Despite strong figures, the year-on-year growth rate has slowed from 38% to 27%, attributed to expansion to new user segments and lower incentives.
• The Centre aims for 1 billion daily UPI transactions and allocated Rs 2,000 crore as incentive expenditure for UPI and RuPay debit cards.