India’s Unified Payments Interface (UPI) has completed 10 years, emerging as a key pillar of the country’s digital economy, according to a statement from the Union Finance Ministry.
The ministry said UPI has grown into the world’s largest real-time payments platform. Over the past decade, transaction volumes have risen nearly 12,000 times.
In FY 2025-26 alone, the total value of UPI transactions crossed Rs 314 lakh crore. With more than 700 banks using the system, UPI now accounts for nearly 49% of overall digital payment transactions.
The number of transactions has expanded sharply from about 2 crore in FY 2016-17 to over 24,162 crore in FY 2025-26. Over the same period, transaction value increased from Rs 0.07 lakh crore to Rs 314 lakh crore.
The ministry also noted that the International Monetary Fund (IMF) has recognised UPI as the world’s largest fast payment system.
