Paytm Payments Bank records lowest and Andhra Bank highest UPI transaction decline rate in Feb


Paytm Payments Bank has registered the lowest transaction decline rate at 0.11% among all UPI remitter banks in February, data released by the National Payments Corporation of India (NPCI) shows.

According to NPCI, this transaction decline or Technical Decline (TD) happens due to technical reasons, such as unavailability of systems and network issues on the bank or on the NPCI side.

In February, Paytm Payments Bank had processed 149.32 million transactions in which 0.11% of the total payments faced technical decline. Among the top five largest remitter banks that handle UPI transactions, HDFC Bank stood at second position with a technical decline rate of 0.31% followed by Axis Bank with 0.83%.

ICICI Bank and SBI recorded their technical decline rate at 0.87% and 1.20%, respectively.

It’s worth noting that SBI processes the largest volume of UPI among all remitter banks. In February, the public sector bank had registered 656.92 million UPI transactions and improved its transaction decline rate from 1.44% in January to 1.20% in February.

This is a significant improvement in the performance of SBI in the past two months which had faced an 8.96% technical decline rate in December. SBI handles UPI transactions for Google Pay, WhatsApp and its own apps.

In February, Paytm Payments Bank was also the top UPI beneficiary bank with 389.24 million transactions. The list includes SBI, Yes Bank, ICICI Bank and Axis Bank at second, third, fourth and fifth position respectively.

In terms of the highest UPI transaction decline rate, Andhra Bank was at the top position with 15% followed by Indian Bank and Allahabad Bank with 10.28% and 6.83% respectively. However, these three banks had collectively processed less than 100 million UPI transactions through their platform.

Union Bank, which saw the highest transaction decline rate at 12.89% in January, has improved its performance in the last month with a 4.20% UPI technical decline rate.

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