upi | DD News

September 9, 2025 10:27 AM

India unveils UPI-UPU integration at Universal Postal Congress in Dubai

Union Minister for Communications and Development of North Eastern Region, Jyotiraditya M. Scindia, today unveiled the UPI–UPU Integration project at the 28th Universal Postal Congress in Dubai, calling it a landmark step to transform cross-border remittances and expand financial inclusion worldwide. The initiative, developed jointly by the Department of Posts, NPCI International Payments Limited and the Universal Postal Union (UPU), integrates India’s Unified Payments Interface (UPI) with ...

August 7, 2025 1:35 PM

India’s financial inclusion gains momentum: Report

The foresight to build a financially empowered India, taking banking beyond branches, is making it a success. From remote to urban areas, a wave of change is noticeable across the country with an inclusive financial system. Bank accounts, credits, pensions, and insurance, which were once a luxury for some, are now accessible to all. According to data released by the Reserve Bank of India (RBI), the accessibility of financial services, products and financial literacy has been on the rise. The ...

August 5, 2025 2:50 PM

Daily UPI-based transactions surpass 700 million for first time

The daily unified payments interface (UPI)-based transactions have crossed 700 million for the first time, touching 707 million, according to the latest National Payments Corporation of India (NPCI) data. The feat was achieved on August 2. Over the past two years, the number of daily transactions has doubled, even though growth has slowed down in comparison to previous years. In August 2023, UPI was registering around 350 million transactions a day, which increased to 500 million daily transac...

July 25, 2025 4:15 PM

UPI payments need to be made financially sustainable for long-term viability: RBI Governor

The era of completely free digital transactions via the Unified Payments Interface (UPI) may not last forever, RBI Governor Sanjay Malhotra said on Friday, adding that the UPI framework should be made financially sustainable going forward. Speaking at an event in Mumbai, Malhotra said the current model—where users pay no fees and the government subsidises banks and other stakeholders—may not be viable in the long run. “Costs will have to be paid. Someone will have to bear the cost,” he...

July 21, 2025 4:02 PM

UPI transforms everyday life in India

India's Unified Payments Interface (UPI) has transformed how millions manage money, making the country a global leader in fast, real-time digital payments. The world is also recognizing the power of Digital India and UPI. A recent IMF note titled "Growing Retail Digital Payments: The Value of Interoperability" highlights UPI's success as a model of public digital infrastructure. UPI has made a name for itself in the fintech world. Real-time digital transactions in India now exceed the total of ...

July 21, 2025 3:54 PM

UPI revolution pushes India to global lead in real-time digital payments

India has firmly established itself as a global leader in real-time digital payments, with the Unified Payments Interface (UPI) at the forefront of this transformation. According to a recent IMF note titled "Growing Retail Digital Payments: The Value of Interoperability", India’s digital infrastructure has become a global benchmark, with UPI now processing over 18 billion transactions each month. Launched in 2016 by the National Payments Corporation of India, UPI has redefined how Indians sen...

July 20, 2025 5:06 PM

India becomes global leader in fast payments as UPI processes 18.39 billion transactions in June: IMF

India has emerged as a global leader in fast payments, with the Unified Payments Interface (UPI) processing over ₹24.03 lakh crore through 18.39 billion transactions in June, the International Monetary Fund (IMF) said on Sunday. In June last year, UPI had recorded 13.88 billion transactions. The rise to 18.39 billion this year marks a sharp 32 per cent year-on-year (YoY) growth. Currently, UPI powers 85 per cent of all digital transactions in India and nearly 50 per cent of all real-time d...

July 11, 2025 2:16 PM

NPCI International Accelerates UPI Adoption Across UAE to Support Cashless Economy Vision

NPCI International Payments Limited has announced significant progress in expanding India's Unified Payments Interface acceptance across the United Arab Emirates, unveiling strategic initiatives to deepen the digital payment platform's integration as both countries strengthen their financial connectivity. The expansion supports the UAE's ambitious vision of achieving a cashless economy while enhancing cross-border payment experiences for millions of Indians who travel between the two nations an...

July 11, 2025 12:04 PM

UPI impact: India now makes faster payments than any other country, says IMF

India now leads the world in faster payments, thanks to the widespread adoption of the Unified Payments Interface (UPI), according to a recent note from the International Monetary Fund (IMF). Since its launch in 2016, UPI has witnessed exponential growth, while several indicators of cash usage have shown a declining trend. UPI now processes over 18 billion transactions per month, dominating the electronic retail payments ecosystem in India, the IMF noted in its paper titled “Growing Retail Di...

May 27, 2025 4:39 PM

Fintech driving growth for MSMEs and merchants, says FM Sitharaman

Union Finance Minister Nirmala Sitharaman on Tuesday said that India’s fintech companies are playing a crucial role in expanding the country’s Digital Public Infrastructure (DPI) and empowering merchants as well as micro, small, and medium enterprises (MSMEs). The Finance Minister visited the office of Pine Labs, a digital fintech company based in Noida, and interacted with its employees and staff members. She acknowledged “India’s fintech firms’ contribution to expanding the country...