India, March 2 -- Reversing the momentum of the past few months, the Unified Payments Interface (UPI) transactions saw a month-on-month dip in February, falling 6% to 20.39 Bn from 21.70 Bn in January.

The value of the UPI transactions in February stood at Rs.26.84 Lakh Cr, down 5% from Rs.28.33 Lakh Cr in January.

The daily average transactions during the month under review grew to 728 Mn from 700 Mn in the previous month, as per NPCI data. Meanwhile, the average daily transaction amount stood at Rs.95,865 Cr in February as against Rs.91,403 Cr in the previous month.

The dip in volume during the month can be attributed to the month of February having three fewer days. UPI transactions have been recording all-time-highs for several mon...