UPI goes global: Cross-border transactions grow 20-fold in a year

Cross-border UPI transactions rose 20 times to 7.55 lakh in FY25, with expansion to seven countries and over 1.5 million merchants accepting the platform

Cross-border Unified Payments Interface (UPI) transactions are gaining momentum with the real-time payments system expanding globally.

 

These transactions grew more than 20 times to over 755,000 in FY25 from just 37,060 payments in FY24. In the first four months of FY26 alone, it clocked 601,000 transactions, data showed.

 

In FY24, the value of such transactions was recorded at ₹19.7 crore, growing multifold to ₹258.53 crore in FY25. As of July of FY26, the transactions processed on cross-border UPI were recorded at ₹169.29 crore. 

 

In comparison, cross-border UPI transactions recorded a modest 180 and 144 payments in FY22 and FY23 respectively during the initial phase of its global roll-out. The value of these transactions was recorded at approximately ₹3,000 and ₹4,000 during the same period.  

 

These numbers include both peer-to-peer (P2P) and peer-to-merchant (P2M) transactions on the payments system in the cross-border context. 

 

The growing numbers come on the back of efforts to link UPI with the fast payment systems in other countries. 

 

The National Payments Corporation of India (NPCI) runs the UPI rails. NPCI International Payments (NIPL), a wholly owned subsidiary of the apex retail payments body, is responsible for expanding UPI globally. 

 

There are more than 1.5 million international merchants taken on board to accept UPI. 

 

At present, UPI is live in seven countries -- United Arab Emirates, Nepal, Bhutan, Singapore, Mauritius, France and Sri Lanka.  

UPI cross-border transactions over the years

    Year Volume Value (in Rs crore) FY22 180 0.0003 FY23 144 0.0004 FY24 37060 19.7 FY25 755445 258.53 FY26* 601002 169.29      

*Data till July 2025

         

Source: Lok Sabha Question and Answers