upi | DD News

August 25, 2026 11:55 AM

UPI: From a digital payment platform to an engine of India’s digital transformation

Under the leadership of Prime Minister Narendra Modi, India’s digital transformation has emerged as a powerful example of how technology can be harnessed to make everyday life simpler, faster and more inclusive. The Unified Payments Interface (UPI), one of the flagship initiatives of this transformation, reflects the Prime Minister’s vision of building a digitally empowered and financially inclusive India. Since its launch in 2016, UPI has grown from a nascent payment platform into a globall...

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 ...

June 16, 2026 8:57 PM

‘Another significant step’: Commerce Minister Piyush Goyal launches UPI in France

Commerce Minister Piyush Goyal on Tuesday launched Unified Payments Interface (UPI) at the iconic Galeries Lafayette in Nice, France, which will enable Indian travellers visiting the country to make seamless payments abroad through familiar platforms. "Bringing India's world-class digital payments platform to one of France's premier retail destinations marks another significant step in UPI's global expansion. With the participation of Lyra Collect and NIPL, this initiative showcases India's abi...

June 11, 2026 5:05 PM

India, Nepal launch cross-border remittance mechanism linking UPI and NPI

India and Nepal have launched a peer-to-peer (P2P) cross-border remittance mechanism, marking a significant step towards strengthening digital financial connectivity and economic cooperation between the two neighbouring countries. The system, which became operational on June 6, establishes a direct linkage between India's Unified Payments Interface (UPI) and Nepal's National Payments Interface (NPI), enabling real-time and secure money transfers between individuals through mobile banking ap...

May 19, 2026 4:29 PM

UPI accounted for 85.5% of digital transaction volume in H2 2025: RBI report

Reserve Bank of India said the Unified Payments Interface (UPI) accounted for the largest share of digital payment transaction volume at 85.5 per cent in the second half of 2025, highlighting the platform’s growing dominance in India’s payments ecosystem. According to the RBI’s latest half-yearly Payment Systems Report, National Electronic Funds Transfer (NEFT) and Prepaid Payment Instruments (PPIs) each accounted for 3.6 per cent of transaction volume, while Real Time...

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...