India, Aug. 24 -- The Government of India has issued a release:
Towards a Unified Payment Ecosystem
India's digital payments ecosystem has undergone a remarkable transformation over the past decade. It is driven by the vision of creating a simple and secure payment system accessible to every citizen. The Unified Payments Interface (UPI), developed by the National Payments Corporation of India (NPCI), has emerged as a cornerstone of India's digital payments revolution. Today, UPI is accepted in 11 countries, with Greece and the Maldives being the latest to adopt India's real-time payment platform.
UPI and its Evolution
With interoperable design and ease of use, UPI has fundamentally changed the way individuals, businesses and government entities transact.
Over the past decade, UPI has evolved into the backbone of India's digital payments ecosystem. Following are some of the key milestones in the evolution of UPI:
2016
2017
2018
2019
2020-2022
2023
2024
2025
UPI Today
UPI has witnessed unprecedented growth in both transaction volume and value, reflecting its widespread adoption by individuals, businesses and financial institutions.
From FY 2016-17 to FY 2025-26:
UPI has transformed the scale and reach of digital payments in India. In July 2026:
UPI's Global Footprint
UPI has emerged as a leading real-time payment system globally. As of 2024, UPI accounted for ~49% of global real-time payment transaction volume. This achievement was highlighted by the International Monetary Fund (IMF) in its "Growing Retail Digital Payments: The Value of Interoperability" report, published in June 2025.
UPI's Global Footprint Continues to Expand
A Decade of Digital Transformation
UPI has transformed the way India transacts by making digital payments simple, secure and interoperable. Its rapid adoption, continuous innovation and expanding global presence have made UPI a key component of India's Digital Public Infrastructure.
References
Ministry of Electronics & Information Technology
https://www.digitalindia.gov.in/initiative/unified-payment-interface-upi/
https://www.digitalindia.gov.in/growth-story/
https://www.digitalindia.gov.in/initiative/upi-123pay/
Ministry of Finance
https://www.pib.gov.in/PressReleasePage.aspx?PRID1735075®48&lang2
https://www.pib.gov.in/PressReleaseIframePage.aspx?PRID1810601&lang2®48
http://pib.gov.in/PressReleasePage.aspx?PRID2110407®48&lang2
https://www.pib.gov.in/PressReleasePage.aspx?PRID2088182&lang1®3
https://www.pib.gov.in/PressReleasePage.aspx?PRID2257087&lang1®3
https://www.pib.gov.in/PressReleasePage.aspx?PRID2200569®48&lang2
https://www.pib.gov.in/PressReleasePage.aspx?PRID2268591®3&lang1
https://www.pib.gov.in/PressReleasePage.aspx?PRID2279646®3&lang1
https://www.pib.gov.in/PressReleasePage.aspx?PRID2292288®48&lang2
National Payments Corporation of India (NPCI)
https://www.bhimupi.org.in/about-bhim.html
https://www.bhimupi.org.in/upi2.html
https://www.bhimupi.org.in/upiautopay.html
https://www.npci.org.in/product/upi/product-statistics
https://www.npci.org.in/product/upi/upi-lite
https://www.npci.org.in/product/upi-circle
https://www.npci.org.in/uploads/DFS_Secretary_Launches_Initiatives_to_Simplify_Digital_Payment_Experience_at_GFF_2025_c74afc4dd6.pdf
Ministry of Drinking Water & Sanitation
https://www.pib.gov.in/PressReleasePage.aspx?PRID1479881®48&lang2
RBI
https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id1034
https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id1327
https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id12532&Mode0
https://rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid58449
https://rbidocs.rbi.org.in/rdocs/Speeches/PDFs/UPI170820182C164878486345FFBEC7D7A55B7B7892.PDF
Others
https://www.kotak.bank.in/en/stories-in-focus/accounts-deposits/current-account/what-is-upi-and-upi-full-form.html
https://www.bseindia.com/static/publicissues/unified-interface
https://razorpay.com/blog/what-is-upi-autopay-recurring-payments-razorpay-subscriptions/
https://bankingfrontiers.com/npci-launches-upi-platform-based-qr-codes/
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