Prime Minister Narendra Modi on Independence Day hailed the success of India’s Unified Payments Interface (UPI), calling it a global model for digital payments. Speaking from the Red Fort, he said UPI now powers half of all real-time transactions worldwide.
UPI’s Global Reach
Launched in 2016, UPI has rapidly transformed digital payments in India and is expanding overseas. As of now, it is live in seven countries — the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius. Its launch in France marked UPI’s first entry into Europe, enabling Indians abroad to make seamless payments without the hurdles of traditional foreign transactions.
Record-Breaking Numbers
- FY25 transaction volume: 18,587 crore
- FY25 transaction value: ₹261 lakh crore
- July 2025 milestone: 1,947 crore transactions in a single month
The platform, operated by the National Payments Corporation of India (NPCI), has become the backbone of India’s retail digital payments ecosystem, allowing real-time transfers between individuals and merchants.
Boost to Small Businesses
PM Modi also linked digital payments to financial inclusion. Highlighting the PM Mudra Yojana, he said crores of entrepreneurs have accessed collateral-free loans of up to ₹20 lakh, helping them launch small businesses and create jobs.
“Through their small enterprises, they have been able to generate employment and strengthen the economy,” he said.
With half of the world’s instant transactions running through UPI, India’s digital payments revolution is now shaping the future of money movement globally.
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