New Delhi, April 11 – As India’s Unified Payments Interface (UPI) celebrates its 10th anniversary on Saturday, the government announced that the country now accounts for 49% of global real-time payment transactions.
The instant payments system processed 21.70 billion transactions in January 2026 alone, with a total value of Rs 28.33 lakh crore. UPI accounted for 81% of all retail digital transactions in India.
The International Monetary Fund (IMF) has hailed UPI as the world's largest real-time payment system by volume, and it was built in under 10 years, according to an official statement.
Since its launch, UPI has grown 12,000-fold in volume and over 4,000 times in value. The government stated that UPI's real impact extends beyond the volume of transactions, reaching informal markets from autorickshaw drivers to village mandis and street vendors.
"A domestic worker can send money across states in seconds using a basic smartphone. This system eliminates the divide between urban and rural, formal and informal areas, marking a significant shift towards financial inclusion," the statement said.
India's digital payments ecosystem has also emerged as a global benchmark. Institutions such as the International Monetary Fund (IMF) and the World Bank have recognized its scale, efficiency, and inclusiveness.
Its operations have expanded to the United Arab Emirates, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius, and Qatar, facilitating cross-border transactions and remittances.
"A homegrown system, built in under a decade, now leads the world. What began as an effort to include the unbanked has become the global gold standard for real-time payments. From queues to QR codes, India's journey reflects the power of inclusive innovation," the statement noted.
Meanwhile, UPI is evolving into a broader financial platform, with UPI Lite supporting quick, small-value payments, while UPI AutoPay streamlines recurring expenses such as utility bills and subscriptions.
UPI has also expanded by enabling access to pre-approved credit lines, with NBFCs and fintech firms delivering loans, facilitating repayments, and offering tailored financial products.
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