India, March 1 -- The Unified Payments Interface (UPI) transactions dropped over 5% month-on-month (MoM) to 16.11 Bn in February from 16.99 Bn in the preceding month and 3.7% from 16.73 Bn in December 2024.

The decline in UPI transactions broke the streak of record-high transactions seen in the previous two consecutive months.

However, on a year-on-year (YoY) basis, the transaction count surged 33% in February.

According to data released by the National Payments Corporation of India (NPCI), the total amount of the UPI transactions declined 6.47% in the month under consideration to INR 21.96 Lakh Cr from INR 23.48 Lakh Cr in January. On a yearly basis, the total transaction amount increased 20% in the month of February.

On a daily basi...