UPI transactions surge over 5 years; 12 countries adopt India’s digital payment system
3 min readJul 20, 2026 03:25 PM IST
Unified Payments Interface has also expanded internationally (Image generated using AI)
UPI transactions in India: The Unified Payments Interface (UPI) has surged over the past five years. Launched by the National Payments Corporation of India (NPCI) on April 11, 2016, under the regulatory supervision of the Reserve Bank of India (RBI), UPI has become the backbone for digital payments in India. It is authorised under the Payment and Settlement Systems Act, 2007.
During the ongoing Monsoon Session of Parliament, Lok Sabha MP Dr Manna Lal Rawat asked the government to provide the current number of UPI users and UPI transactions in the country, along with state-wise details of users. He also asked whether UPI is being used in countries outside India and, if so, requested the names of those countries and their partner institutions.
The Lok Sabha MP also sought details on new technical or policy initiatives taken by the government to make UPI-based digital transactions more secure and transparent.
Responding to the query on July 22, 2026, Union Minister of State (MoS) for Finance Pankaj Chaudhary said that, according to NPCI, 55.49 crore users had been onboarded onto the UPI platform as of June 2026. He also said that the government, the Reserve Bank of India (RBI), and NPCI have undertaken various initiatives from time to time to make UPI-based transactions more secure and transparent.
“These, inter alia, include risk-based transaction limits to curb fraudulent transactions, safeguards against unauthorized mobile number changes and misuse of SMS-based authentication, as well as enhanced security requirements for UPI applications.
Further, NPCI has issued the Comprehensive UPI Information Security Framework (CUISF) 2025 and the Mobile Application Security Framework, mandating advanced security controls to strengthen the safety and resilience of the UPI ecosystem,” the minister said.
UPI transactions surge over 5 years
UPI transactions have increased sharply over the last five financial years. In FY 2021-22, UPI processed 4,595.61 crore transactions worth Rs 84.16 lakh crore. The volume rose to 8,371.44 crore transactions in FY 2022-23, 13,112.95 crore in FY 2023–24, and 18,586.60 crore in FY 2024-25.
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In FY 2025–26, UPI recorded its highest-ever performance, processing 24,161.69 crore transactions with a total value of Rs 314.23 lakh crore.
UPI Transactions: 5-Year Growth Trend
24,161.69 Cr
Volume, FY 2025-26
₹314.23 L Cr
Value, FY 2025-26
Volume & Value Trend (FY22-FY26)
Volume (in Crore)
4,595.61
8,371.44
13,112.95
18,586.60
24,161.69
FY21-22
FY22-23
FY23-24
FY24-25
FY25-26
Value (in lakh Crore)
84.16
139.15
199.95
260.56
314.23
FY21-22
FY22-23
FY23-24
FY24-25
FY25-26
Volume
Value
12 countries have adopted India’s digital payment system – Full list
The Union Minister said that NPCI International Payments Ltd. (NIPL) is a wholly owned subsidiary of the National Payments Corporation of India (NPCI). It was set up in April 2020 to work with foreign institutions and expand NPCI’s payment platforms, including UPI and the RuPay card network, to international markets.
“This enables Indian tourists and the Indian diaspora to make seamless cross-border payments while assisting partner countries and entities in building their payment infrastructure, such as UPI-like real-time payment systems or RuPay like domestic card schemes,” Chaudhary said in a written statement.
UPI Goes Global: 12 Countries, 6 Continents
12
Countries live on UPI
Jul 2021
First country: Bhutan
Country-wise Rollout & Partner Institutions
1
Bhutan
P2M
RMA Bhutan
Live since: July 2021
2
Singapore
P2M
NETS Singapore Pte. Ltd., HitPay Payment Solutions Pte. Ltd., LiquidPay Group Pte. Ltd.
Live since: August 2021
3
UAE
P2M
Mashreq Bank PSC (NeoPay), Network International, Magnati-Sole Proprietorship LLC
Live since: April 2022
4
Singapore
P2P
BCS Paynow
Live since: February 2023
5
France
P2M
LYRA Network
Live since: February 2024
6
Mauritius
P2M
Bank of Mauritius
Live since: February 2024
7
Sri Lanka
P2M
Lanka Pay Pvt. Ltd.
Live since: February 2024
8
Nepal
P2M
FonePay Payment Services Ltd.
Live since: March 2024
9
Qatar
P2M
Qatar National Bank
Live since: September 2025
10
Greece
P2P
Eurobank S.A.
Live since: May 2026
11
Nepal
P2P
Nepal Clearing House Limited (NCHL)
Live since: June 2026
12
Cambodia
P2M
Acleda Bank PLC
Live since: June 2026
P2M (Person to Merchant)
P2P (Person to Person)
Anish Mondal is a journalist with over nine years of experience covering the railways and roadways. Currently a member of the Indianexpress.com editorial team, Anish specializes in high-impact sectors. Professional Journey Anish began his career at the public broadcaster Rajya Sabha Television (now Sansad TV), where he developed a foundational understanding of legislative processes and national governance. In 2018, he transitioned to digital financial journalism at FinancialExpress.com, spending nearly six years refining his expertise in market trends and corporate reporting. Before joining The Indian Express in 2025, he served as a key contributor at ETNowNews.com. Education & Expertise Anish’s reporting is backed by a rigorous academic background in communication and the humanities: Master of Journalism and Mass Communication (MJMC) – Apeejay Stya University Post Graduate Diploma in Journalism and Production (PGTVRJP) – Apeejay Institute of Mass Communication Bachelor of Arts (English Honours) – University of Calcutta Areas of Coverage Connectivity: Detailed reporting on the expansion of Indian Railways and National Highway networks. ... Read More
Source: Indian Express
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