India’s Unified Payments Interface (UPI) has completed 10 years of operation, emerging as the backbone of the country’s digital payments ecosystem and a major driver of financial inclusion. Launched in April 2016 by the National Payments Corporation of India under the oversight of the Reserve Bank of India, the platform has witnessed exponential growth in transaction volume and value.
According to the Ministry of Finance, UPI processed more than 24,162 crore transactions during 2025–26, with the total transaction value exceeding ₹314 lakh crore. The network, which began with 21 banks, has now expanded to 703 participating banks across the country.
UPI crossed 2,001 crore monthly transactions for the first time in August 2025 and reached 2,163 crore transactions in December 2025. Person-to-merchant payments accounted for nearly 63% of transaction volume, highlighting widespread adoption in everyday retail payments.
The platform has also gained international recognition, accounting for nearly 49% of global real-time payment transactions by volume in 2025, according to the International Monetary Fund. UPI-based payments are now accepted in countries including Singapore, France, Bhutan, Nepal, Sri Lanka, the United Arab Emirates and Mauritius.
Officials said the next phase of UPI development will focus on expanding adoption, strengthening system resilience and deepening international digital payment partnerships.
