{"id":1298018,"date":"2025-07-22T11:57:56","date_gmt":"2025-07-22T06:27:56","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1298018"},"modified":"2025-07-22T11:58:29","modified_gmt":"2025-07-22T06:28:29","slug":"with-18-billion-upi-transactions-month-india-becomes-1-for-real-time-digital-payments","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/with-18-billion-upi-transactions-month-india-becomes-1-for-real-time-digital-payments\/","title":{"rendered":"With 18 Billion UPI Transactions\/Month, India Becomes #1 For Real Time Digital Payments"},"content":{"rendered":"\n

Recently an International Monetary Fund (IMF) note titled \u2018Growing Retail Digital Payments: The Value of Interoperability\u2019 made an announcement declaring India has become the world\u2019s top player in real-time digital payments, largely due to the rapid growth of the Unified Payments Interface (UPI).<\/p>\n\n\n\n

\"With<\/figure>\n\n\n\n

Indian Leading The World With UPI Payments<\/strong> <\/p>\n\n\n\n

As we know that UPI<\/a>, which was earlier launched in 2016 by the National Payments Corporation of India, appears to have revolutionised the country\u2019s payment ecosystem by enabling users to link multiple bank accounts to a single mobile app and make instant transactions with ease.<\/p>\n\n\n\n

This has also helped in simplifying peer-to-peer payments further enabling millions of small businesses to accept digital payments at minimal cost.<\/p>\n\n\n\n

Presently UPI processes over 18 billion transactions every month which is a very significant amount almost accounting for 85 per cent of India\u2019s total digital payments as per the data from the Press Information Bureau (PIB).<\/p>\n\n\n\n

This platform recorded 18.39 billion transactions worth Rs 24.03 lakh crore during June this year which is again representing a 32 per cent increase from June last year. <\/p>\n\n\n\n

Now UPI connects 675 banks through a single digital framework having 491 million users and 65 million merchants onboard.<\/p>\n\n\n\n

Becoming A Digital-First Economy<\/strong><\/p>\n\n\n\n

PIB in its latest background series mentioned \u201cThis shift has taken India away from cash and card-based payments and pushed it towards a digital-first economy.\u201d<\/p>\n\n\n\n

 Further adding, \u201cMillions of individuals and small businesses now rely on UPI for safe and low-cost transactions.By making payments quick and accessible, UPI has become a powerful tool for financial inclusion.\u201d<\/p>\n\n\n\n

In the meantime, the platform\u2019s global footprint is expanding as UPI is now operational in seven countries, including the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius.<\/p>\n\n\n\n

Now its debut in France marks UPI\u2019s first foray into the European market further allowing Indians to make payments seamlessly without the usual hassles of foreign transactions.<\/p>\n\n\n\n

After this, India is pushing for UPI to be adopted within the BRICS grouping now includes six new member nations.<\/p>\n\n\n\n

Such an expansion \u201cwill improve remittances, boost financial inclusion and raise India’s profile as a global tech leader in digital payments,\u201d as noted by the PIB.<\/p>\n\n\n\n

If we look into the journey to this digital success, it was built on a strong foundation of financial inclusion. <\/p>\n\n\n\n

Besides this, the Jan Dhan Yojana seems to be a key enabler as it would bring over 55.83 crore people into the formal banking system as of July 9.<\/p>\n\n\n\n

With these accounts, the account holder gets a secure way to receive welfare benefits and also  encourages them for saving and digital financial habits.<\/p>\n\n\n\n

Further, PIB said, \u201cThese figures show more than just numbers. They reflect trust, convenience and speed. Every month, more individuals and businesses choose UPI for their payments. This growing use is a strong sign that India is moving steadily towards a cashless economy.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"

Recently an International Monetary Fund (IMF) note titled \u2018Growing Retail Digital Payments: The Value of Interoperability\u2019 made an announcement declaring India has become the world\u2019s top player in real-time digital payments, largely due to the rapid growth of the Unified Payments Interface (UPI). Indian Leading The World With UPI Payments  As we know that UPI, […]<\/p>\n","protected":false},"author":30,"featured_media":1298027,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[41],"class_list":["post-1298018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-upi"],"acf":[],"yoast_head":"\nWith 18 Billion UPI Transactions\/Month, India Becomes #1 For Real Time Digital Payments - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/with-18-billion-upi-transactions-month-india-becomes-1-for-real-time-digital-payments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"With 18 Billion UPI Transactions\/Month, India Becomes #1 For Real Time Digital Payments - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"Recently an International Monetary Fund (IMF) note titled \u2018Growing Retail Digital Payments: The Value of Interoperability\u2019 made an announcement declaring India has become the world\u2019s top player in real-time digital payments, largely due to the rapid growth of the Unified Payments Interface (UPI). 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