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New Delhi. India has now gone to the forefront of the world in terms of faster digital payments. According to the new report of the International Monetary Fund (IMF) ‘Retail Digital Payment: According to the importance of interoperability’, India’s Unified Payments Interface (UPI) is the mainstay of this revolution.

UPI, started by the National Payments Corporation of India (NPCI) in 2016, has become the fastest, easy and reliable way to send and get money in India today. Many bank accounts can be added to the same mobile app through UPI. Then whether someone wants to send money, pay in the shop or transfer money to friends- everything is done in a few clicks.

Today, more than 18 billion transactions are being done in India through UPI every month. In June 2025 itself, UPI processed a payment of Rs 24.03 lakh crore through 18.39 billion transactions. In June last year, the figure was 13.88 billion transactions. That is, a growth of about 32% has been recorded in a year.

Today, 491 million people and 65 lakh traders are connected to UPI, or 49.1 million people. 675 banks work together on UPI, so that any person can pay anyone from any bank, without worrying about the name of the bank. Of all the digital transactions in India, 85% are through UPI. Not only this, 50% of the world’s real-time digital payments are from UPI in India alone.

UPI is no longer limited to India. This service has started in seven countries. Which includes UAE, Singapore, Bhutan, Nepal, Sri Lanka, France and Mauritius. At the same time, UPI’s start in France is a big step for India, as it is the first entry of UPI in Europe. Now Indians living there can easily pay without any foreign payment hassle.