India’s UPI Surges Ahead as Global Leader in Fast Payments

UPI Records 18.39 Billion Transactions in June, Outpacing Visa

India’s Unified Payments Interface (UPI) has firmly established itself as a global powerhouse in digital transactions, according to a recent report by the International Monetary Fund (IMF). In June 2025 alone, UPI processed over ₹24.03 lakh crore across 18.39 billion transactions — a significant 32% year-on-year jump from the 13.88 billion transactions recorded in June 2024.

This massive growth means UPI now accounts for 85% of all digital transactions within India and handles nearly 50% of all real-time digital payments worldwide. The platform processes over 640 million transactions daily, surpassing global financial giant Visa, which averages 639 million.

Launched in 2016 by the National Payments Corporation of India (NPCI), UPI’s rapid growth over just nine years is a testament to India’s digital transformation. It currently serves 491 million users and 65 million merchants, linking 675 banks through a unified system.

Driving Financial Inclusion and Global Expansion

The IMF praised India’s long-term digital strategy and inclusive approach, highlighting UPI’s pivotal role in bringing banking services to rural and underserved populations. Its simple mobile interface allows users to send money, pay merchants, and manage bank accounts seamlessly, regardless of the bank they use.

UPI’s influence now extends beyond Indian borders. The platform is operational in seven countries — including the UAE, Singapore, Nepal, Bhutan, Sri Lanka, France, and Mauritius — with France marking UPI’s debut in Europe. This enables Indian travelers and residents in these countries to make direct payments using familiar tools.

India is also advocating for UPI’s adoption as a standard payment solution across the expanded BRICS group. If successful, this could revolutionise cross-border transactions, making them faster, cheaper, and more secure. UPI has not only redefined how India transacts but has become a blueprint for digital public infrastructure globally — a shining example of how technology can fuel inclusive growth and financial empowerment.