New Delhi9 hours ago
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85% of the digital payments in India are being made through UPI, of which 49.1 crore users, 6.5 crore businessmen and 675 banks are connected on the same platform.
India has secured the first position in the world in the fast and secure digital payment sector. According to the recent report by the International Monetary Fund (IMF), India has achieved this position in digital transactions due to Unified Payments Interface (UPI).
The UPI, launched by the National Payments Corporation of India (NPCI) in 2016, has become the easiest and popular way of money transactions in the country today. With the help of UPI, people can connect many bank accounts with the same mobile app and can do safe, low -cost transactions in a few seconds.
According to NPCI, UPI has more than 1,800 crore transactions every month. In June 2025, UPI did a turnover of Rs 24.03 lakh crore with 1,839 crore transactions, showing 32% growth compared to 1,388 crore transactions in June 2024 last year.
UPI extends towards digital-dominated economy
PIB said, “UPI has taken India away from cash and card based payment and extended towards digital-dominated economy.” This platform has become a strong means of financial increases not only for big business, but also for small shopkeepers and common people.
85% digital payment in India is being made from UPI
Today 85% of the digital payments in India are being made through UPI, of which 49.1 crore users, 6.5 crore businessmen and 675 banks are connected on the same platform. Not only this, UPI is now handling about 50% real-time digital payments at global level.
UPI is also being used outside India
The impact of UPI is now visible outside India’s borders. It is also available in seven countries- United Arab Emirates, Singapore, Bhutan, Nepal, Sri Lanka, France and Mauritius. The start of UPI in France is a symbol of its first step in Europe, making it easier for Indians living abroad or traveling abroad.
PIB said, “It is not just a matter of data, but it shows the growing trust on India’s digital framework and rapid steps towards a cashless economy.” The UPI has not only made the transaction easier, but has also connected small traders and people living in rural areas to digital economy. This success of UPI is establishing India as a global leader in technological innovation and financial increases.
How does UPI work?
For UPI service, you have to prepare a virtual payment address. After this it will have to link to the bank account. After this, there is no need to remember your bank account number, bank name or IFSC code etc. The payment bus processes the payment request according to your mobile number.
If you have its UPI ID (e-mail ID, mobile number or Aadhaar number), then you can easily send money through your smartphone. Net banking, credit or debit card will not be required not only for money but also for utility bill payment, online shopping, shopping etc. You can do all this work with unified payment interface system.
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