Unified Payments Interface

September 15, 2026 9:05 PM

UPI to Remain Free for P2P Transactions, 96% of Merchant Payments

The Unified Payments Interface (UPI) will continue to remain completely free for all person-to-person transactions, irrespective of the amount transferred, under the new UPI framework, the government said on Tuesday. The framework will also keep merchant payments up to ₹2,000 free of Merchant Discount Rate (MDR). Payments received by eligible small merchants under the zero-MDR framework will also remain free. As a result, approximately 96 per cent of all person-to-merchant (P2M) UPI transact...

September 10, 2026 10:20 AM

BRICS WBA chair highlights UPI-modelled digital public infrastructure paper, calls India’s presidency “phenomenal”

India’s presidency of BRICS has been “absolutely phenomenal”, said Avarna Jain, Chairperson of the BRICS Women’s Business Alliance (WBA), highlighting the body’s work on a knowledge paper on digital public infrastructure modelled on India’s Unified Payments Interface (UPI). Delhi is set to host the 18th BRICS Leaders’ Summit on September 12-13, as India concludes its 2026 chairship of the expanded grouping of major emerging economies and developing countries. “I think India’s...

August 25, 2026 11:54 AM

UPI at 10: How India’s homegrown payment system transformed the way the country transacts

In a decade, the Unified Payments Interface (UPI) has moved from being a new digital payment mechanism to becoming an integral part of everyday life in India. From small-value payments at neighbourhood shops to bank transfers and cross-border transactions, UPI has fundamentally changed the country's digital payments landscape. Developed by the National Payments Corporation of India (NPCI), UPI was conceived as an interoperable, simple and secure platform that could bring multiple banking servic...

August 25, 2026 11:34 AM

PM Modi hails 10 years of UPI, says digital payments revolution a source of pride for every Indian

Prime Minister Narendra Modi on Tuesday hailed the Unified Payments Interface (UPI) as a “major turning point” in India’s digital payments journey as the country’s flagship real-time payment system completed a decade, highlighting its unprecedented scale, reach and growing global footprint. In a post on X, PM Modi said the rollout of UPI a decade ago had transformed the way Indians make payments and urged citizens to share how the platform had impacted their lives. “A decade ago, UPI...

August 17, 2026 6:48 PM

Qatar-India Postal Remittance Service powered by UPI goes live through Qatar Post outlets

A new digital postal remittance service enabling people in Qatar to send money directly to Unified Payments Interface (UPI)-enabled bank accounts in India is now available through Qatar Post outlets, strengthening digital financial connectivity between the two countries. The Qatar-India remittance service based on PosTransfer powered by UPI was made available in Qatar on August 15, coinciding with India’s Independence Day. The service has been developed through a collaboration between Qatar P...

August 9, 2026 5:40 PM

UPI to remain free for users; nominal MDR may apply to limited merchant transactions

The Centre on Saturday clarified that users will not be charged for making payments through the Unified Payments Interface (UPI), amid concerns over the recent amendment to the Payment and Settlement Systems Act (PSS Act). The government said all Person-to-Person (P2P) UPI transactions would continue to remain free, while the vast majority of merchant transactions would also remain charge-free. The government said any Merchant Discount Rate (MDR) introduced in the future would apply only to a ...

July 31, 2026 5:58 PM

Favara-UPI cross-border payment corridor goes live, enabling real-time transfers between Maldives and India

India and the Maldives have strengthened their digital financial partnership with the launch of the Favara-UPI cross-border payment corridor, enabling individuals in the Maldives to transfer funds instantly to UPI-enabled bank accounts in India through their mobile banking applications. The Maldives Monetary Authority (MMA) announced the successful operationalisation of the integration between the Maldives Instant Payment System, Favara, and India's Unified Payments Interface (UPI) on July 30, ...

July 20, 2026 11:50 PM

UPI user base crosses 55.49 crore; transactions reach record Rs 314 lakh crore in FY26

India's Unified Payments Interface (UPI) continued its rapid expansion in 2025-26, with the number of onboarded users reaching 55.49 crore as of June 2026, while transaction value touched a record ₹314.23 lakh crore during the financial year, according to information shared by the government in Parliament. Minister of State for Finance Pankaj Chaudhary, in a written reply to the Lok Sabha on Monday, said UPI, operated by the National Payments Corporation of India (NPCI) under the Payment and ...

April 30, 2026 9:55 PM

Unified Payments Interface at 10: UPI emerges as world’s largest real-time payments platform, anchoring India’s digital economy

A decade after its launch, the Unified Payments Interface (UPI) has transformed from a fledgling digital experiment into the world’s largest real-time payments platform, powering nearly half of global instant payment transactions and redefining how India pays, saves and transacts. Launched on April 11, 2016 by the National Payments Corporation of India (NPCI) under the regulatory oversight of the Reserve Bank of India (RBI), UPI today stands as the backbone of India’s digital economy - driv...

February 6, 2026 6:34 PM

India signs DPI cooperation agreements with 23 countries; UPI goes live in eight nations

India has signed Memorandum of Understanding (MoUs) and agreements with 23 countries to share and cooperate on its Digital Public Infrastructure (DPI), reinforcing the country’s growing role as a global leader in digital governance and fintech innovation. The agreements aim to facilitate the replication and adoption of India’s digital platforms under the India Stack framework, said Union Minister of State for Electronics and Information Technology Jitin Prasada in a written reply to Rajya Sa...