India has secured the first position in the world in the fast and secure digital payment sector. According to a recent report by the International Monetary Fund (IMF), India has achieved this position in digital transactions thanks to the Unified Payments Interface (UPI).
Launched by the National Payments Corporation of India (NPCI) in 2016, UPI has become the easiest and most popular way to transact money in the country today. With the help of UPI, people can link their multiple bank accounts with a single mobile app and make secure, low-cost transactions in a matter of seconds.
According to NPCI, more than 1,800 crore transactions take place every month through UPI. In June 2025, UPI did a business of Rs 24.03 lakh crore with 1,839 crore transactions, which shows a growth of 32% compared to 1,388 crore transactions in June 2024 last year.
UPI moves towards a digital-dominated economy
PIB said, ‘UPI has moved India away from cash and card based payments and towards a digital-dominated economy.’ This platform has become a strong tool for financial inclusion not only for big businesses but also for small shopkeepers and common people.
85% of digital payments in India are being done through UPI
Today 85% of digital payments in India are being done through UPI, with 49.1 crore users, 6.5 crore businessmen and 675 banks connected on a single platform. Not only this, UPI is now handling about 50% of real-time digital payments at the global level as well.
