UPI User Base and Transaction Growth
The Unified Payments Interface (UPI), operated by the National Payments Corporation of India (NPCI) under the Payment and Settlement Systems Act, 2007, has reached 55.49 crore onboarded users as of June 2026. Transaction volume and value have shown substantial growth over the last five financial years. In FY 2021-22, UPI processed 4,595.61 crore transactions valued at ₹84.16 lakh crore, growing to 8,371.44 crore transactions (₹139.15 lakh crore) in FY 2022-23, and 13,112.95 crore transactions (₹199.95 lakh crore) in FY 2023-24. The growth continued in FY 2024-25 with 18,586.60 crore transactions (₹260.56 lakh crore), reaching 24,161.69 crore transactions valued at ₹314.23 lakh crore in FY 2025-26, representing significant year-on-year expansion.
International Expansion through NPCI International
NPCI International Payments Ltd. (NIPL), a wholly owned subsidiary incorporated in April 2020, partners with foreign entities to extend NPCI payment platforms like UPI and RuPay to international markets. This initiative supports Indian tourists and the diaspora with seamless cross-border payments while assisting partner countries in building their payment infrastructure, including UPI-like real-time payment systems or RuPay-like domestic card schemes.
Security Initiatives for UPI Transactions
The Government, RBI, and NPCI have implemented multiple measures to enhance the security and transparency of UPI-based transactions. These include risk-based transaction limits to curb fraudulent activities, safeguards against unauthorized mobile number changes and misuse of SMS-based authentication, and enhanced security requirements for UPI applications. NPCI has also issued the Comprehensive UPI Information Security Framework (CUISF) 2025 and the Mobile Application Security Framework, mandating advanced security controls to strengthen the safety and resilience of the UPI ecosystem.
Global UPI Partnerships and Implementation
UPI is linked with payment systems in 12 countries to facilitate Person-to-Person (P2P) remittances and Person-to-Merchant (P2M) transactions. The partnerships include:
- Bhutan: P2M with RMA Bhutan, live since July 2021
- Singapore: P2M with NETS Singapore Pte. Ltd., HitPay Payment Solutions Pte. Ltd., and LiquidPay Group Pte. Ltd., live since August 2021; P2P with BCS Paynow, live since February 2023
- UAE: P2M with Mashreq Bank PSC (NeoPay) and Network International Magnati-Sole Proprietorship LLC, live since April 2022
- France: P2M with LYRA Network, live since February 2024
- Mauritius: P2M with Bank of Mauritius, live since February 2024
- Sri Lanka: P2M with Lanka Pay Pvt. Ltd., live since February 2024
- Nepal: P2M with FonePay Payment Services Ltd., live since March 2024; P2P with Nepal Clearing House Limited (NCHL), live since June 2026
- Qatar: P2M with Qatar National Bank, live since September 2025
- Greece: P2P with Eurobank S.A., live since May 2026
- Cambodia: P2M with Acleda Bank PLC, live since June 2026
This information was provided by the Minister of State in the Ministry of Finance, Shri Pankaj Chaudhary, in a written reply to a question in Lok Sabha on July 20, 2026.