New delhi: India has become a global leader in fast digital payments thanks to its unified payments interface (UPI). According to a new report by the International Monetary Fund (Imf) Titled “The Growing Trend of Retail Digital Payments: The Importance of Interoperability,” UPI IS Driving This Change In the Country.
UPI has completely changed the way people make transactions. Launched in 2016 by the National Payments Corporation of India (NPCI), UPI has made sending and receiving money in India easy, faster, and more reliable. With UPI, Users Can Link Multiple Bank Accounts to a Single Mobile App. Whether it’s sending money to a friend, paying at a store, or making a transfer, everything can be done with just a more clicks.
Every month, upi handles transactions Worth over 18 billion rupees. In June 2025 Alone, UPI Processed Payments of 24. 03 Lakh Crore Rupees Through 18. 39 billion transactions. This is a significant increase from June of the previous year when there 13. 88 billion transactions, showing a 32% growth in just one year.
Currently, 491 Million People and 65 Lakh Merchants are connected to upi. UPI is supported by 675 banks, making it possible for anyone to pay anyone, regardless of which bank they belong to.
UPI Accounts for 85% of all digital transactions in India. Additional, 50% of Real-Time Digital Payments Worldwide Are Done Through India’s UPI Alone.
It is now available in Seven Countries, Including the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius. The introduction of UPI in France Marks a Major Milestone for India, as it is the first time upi upi has entered Europe. Now, Indians Living In France Can Make Payments Easily Facing Any Issues to Foreign Transactions.
