upi | DD News

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...

May 6, 2025 2:43 PM

UPI QR codes record 91.5% surge to 657.9 million, credit card growth slows

Unified Payments Interface (UPI) QR codes recorded the fastest growth in digital payments infrastructure in the financial year 2024-25, with a 91.5 per cent jump over the previous year, reaching 657.9 million, according to the latest data from the Reserve Bank of India (RBI). This sharp surge in UPI QR code adoption was accompanied by a slowdown in credit card transaction growth, which registered a year-on-year increase of just 7.94 per cent. Debit card growth remained modest as well, rising on...

May 1, 2025 3:20 PM

Daily UPI transactions rise to 596 million in April; value reaches ₹24 lakh crore

The number of daily Unified Payments Interface (UPI) transactions in India climbed to 596 million in April, up from 590 million recorded in March, according to data released on Thursday by the National Payments Corporation of India (NPCI). Despite a slight dip in the overall transaction value—from ₹24.8 lakh crore in March to ₹24 lakh crore in April—the volume surge marks the twelfth consecutive month of payments exceeding ₹20 lakh crore. Year-on-year growth remained robust, with the...

April 29, 2025 4:00 PM

NPCI directs banks to limit ‘check transaction’ API usage to avoid UPI outage

The National Payments Corporation of India (NPCI) has directed banks to limit the use of the 'Check Transaction' application programming interface (API) following a major outage in the Unified Payments Interface (UPI) on April 12. The outage, which lasted over five hours, was caused by a surge in transaction status queries sent by banks. The spike in API calls overwhelmed the system, leading to a sharp drop in transaction success rate. During the disruption, which lasted from 11:40 am to 4:40 ...

April 4, 2025 2:52 PM

PM Modi offers linking UPI with payment systems of BIMSTEC nations

Prime Minister Narendra Modi on Friday proposed linking India's Unified Payments Interface (UPI) with the payment systems of BIMSTEC member nations to strengthen trade, industry, and tourism in the region. Addressing the sixth summit of the seven-nation group, the prime minister also proposed establishing a BIMSTEC Chamber of Commerce and exploring the promotion of trade in local currencies within the region. Additionally, the prime minister recommended establishing a BIMSTEC Centre of...

April 1, 2025 7:57 PM

The next UPI? How an India energy stack can lead the digital energy revolution

At the United Nations' first International Conference on Digital Public Infrastructure (DPI) in April 2024, held under India’s leadership, the global discussion centered on how this framework can accelerate sustainable development and promote inclusivity. As a participant in these discussions, it was evident that India’s success in building open, interoperable, and citizen-centric DPIs has set a global benchmark. While Aadhaar has transformed delivery of public services, social security an...

April 1, 2025 6:24 PM

UPI transaction volume up 13.5% in March, value at record Rs 24.77 lakh crore

The Unified Payments Interface (UPI) saw a 13.59% increase in transaction volume in March, reaching 18.3 billion transactions, compared to 16.11 billion in February, according to data from the National Payments Corporation of India (NPCI). March recorded a record Rs 24.77 lakh crore worth of UPI-based transactions, marking a 12.79% increase from Rs 21.96 lakh crore in February. On a daily basis, the UPI network saw more than 590 million average transactions, totaling Rs 79,910 crore in daily t...

February 1, 2025 1:22 PM

Budget 2025: FM proposes ID cards for gig workers, UPI-linked credit cards for street vendors

Finance Minister Nirmala Sitharaman, during her Budget 2025 presentation, announced a range of initiatives aimed at empowering gig workers and street vendors, signaling a continued push toward inclusive development. In a landmark move, the government will issue ID cards to gig workers, granting them access to healthcare and other social security benefits through a newly proposed welfare scheme. The initiative aims to support urban and online platform workers by providing identity cards and faci...