UPI registers 2.29 billion transaction in Feb 2021, Paytm becomes top payment app with 1.2 billion monthly transactions- Technology News, FP

UPI registers 2.29 billion transaction in Feb 2021, Paytm becomes top payment app with 1.2 billion monthly transactions- Technology News, FP

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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 that, 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.

 UPI registers 2.29 billion transaction in Feb 2021, Paytm becomes top payment app with 1.2 billion monthly transactions

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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