UPI Revolution: One App Powers 85% of India's Digital Payments and Now It's Going Global

India leads the world in fast payments, with UPI driving over 18 billion monthly transactions. It now accounts for 85% of India's digital payments and nearly half of global real-time digital transfers.

India has emerged as the global leader in fast payments, according to a recent note by the International Monetary Fund titled Growing Retail Digital Payments: The Value of Interoperability.

At the heart of this transformation is the Unified Payments Interface, better known as UPI. Launched in 2016 by the National Payments Corporation of India (NPCI), UPI has changed how people send and receive money in the country.

What makes UPI special

It brings all your bank accounts together in one mobile app. One can transfer money instantly, pay merchants, or send funds to friends with just a few taps. Its appeal lies in its speed and ease of use.

Today, UPI processes over 18 billion transactions every month in India.

Transforming India's digital economy

"This shift has taken India away from cash and card-based payments and pushed it towards a digital-first economy. Millions of individuals and small businesses now rely on UPI for safe and low-cost transactions. By making payments quick and accessible, UPI has become a powerful tool for financial inclusion," said the Press Information Bureau (PIB) in its backgrounder series on Sunday.

Massive scale and growing trust

In June alone, UPI handled over ₹24.03 lakh crore in payments across 18.39 billion transactions. That’s a 32% jump compared to 13.88 billion transactions in the same month last year. UPI now serves:

• 491 million individuals
• 65 million merchants
• 675 connected banks

It accounts for 85% of all digital transactions in India and nearly 50% of all real-time digital payments globally.

UPI's international journey

The success story doesn’t stop at home. UPI is now live in seven countries — the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius.

Its entry into France marks UPI’s first European milestone, allowing Indians traveling or living there to pay seamlessly without the usual hassles of foreign transactions.

'More than just numbers, these figures reflect trust, convenience, and speed,' the PIB report said. As UPI adoption grows month by month, it is clear India is steadily moving towards a cashless, interoperable, and digitally inclusive economy.