Unified Payment Interface

Payment aggregators push for fixed and direct share of UPI MDR

The demand is likely to draw resistance, as payment aggregators are not direct members of the UPI network run by the NPCI

UPI completes 10 years, clocks nearly 13k fold rise in transaction volume

The Unified Payments Interface (UPI), which was launched on August 25, 2016, has completed a decade of transforming India's digital payments landscape, emerging as the backbone of the country's digital payments ecosystem and a global benchmark for real-time payments. Annual UPI transaction volume rose from 1.78 crore in 2016-17 to more than 24,162 crore in 2025-26, an almost 13,000-fold increase, the finance ministry said in a statement. During the same period, transaction value jumped from Rs 0.07 lakh crore to around Rs 314 lakh crore, representing a more than 4,000-fold rise, it said. Developed by the National Payments Corporation of India (NPCI) under the regulatory oversight of the Reserve Bank of India (RBI), UPI has recorded an unprecedented expansion in both transaction volume and value over the past 10 years, it said. The year 2026 marked a significant milestone in the growth trajectory of UPI, it said, adding that monthly transaction volumes crossed 2,300 crore for the fi

Small merchants built UPI's reach. Here's what government data shows

Small merchants have driven UPI's mass adoption. Here's why defining who qualifies as a small merchant matters as the government creates a framework for potential MDR

NPCI targets Indian diaspora to drive UPI growth across overseas markets

NPCI plans to use the country's vast diaspora to drive global expansion, while also exploring AI-enabled payments through platforms like ChatGPT and Gemini

EPFO delays UPI-linked PF withdrawals to May-end amid final testing

EPFO to enable UPI-based PF withdrawals by May-end under CITES 2.0 upgrade, promising faster access but requiring a brief system shutdown during migration

Merchant payments, financial services power 42% of PhonePe revenue

Digital payments giant PhonePe has reported strong revenue growth and sharply narrowing losses over the past three fiscal years, signalling a shift towards sustainable monetisation and operational efficiency, according to its draft red herring prospectus (DRHP). Revenue from operations rose to Rs 71,14.85 crore in FY25 from Rs 2,914.28 crore in FY23, reflecting a compound annual growth rate (CAGR) of 56.25 per cent. According to the company's DRHP, PhonePe is successfully transitioning towards long-term monetisation and operational efficiency. The company's revenue mix has diversified significantly beyond core UPI payments. Merchant Payments contribution increased from 14.75 per cent in FY23 to 30.78 per cent by September 2025. Financial Services, including lending and insurance distribution, expanded from 0.96 per cent in FY23 to 11.55 per cent in the first half of the current fiscal year. Together, merchant payments and financial services accounted for 42 per cent of revenue, .

UPI emerges as the most preferred mode for transactions now: Report

UPI has emerged as the most preferred mode of transaction, surpassing cash transactions, and there is a need for targeted interventions to strengthen RuPay debit card usage, particularly in rural and semi-urban areas, a report said. The Department of Financial Services (DFS), Ministry of Finance, released a report titled "Socio-Economic Impact Analysis of the Incentive Scheme for Promotion of RuPay Debit Card and low-value BHIM-UPI (Person-to-Merchant) transactions" during the Chintan Shivir held on 13-14 February 2026. The socio-economic impact analysis is based on an extensive primary survey covering 10,378 respondents across 15 States, including 6,167 users, 2,199 merchants, and 2,012 service providers, representing the key stakeholders of India's digital payments ecosystem along with in-depth secondary research. The evaluation indicates a significant and sustained increase in the adoption of digital payments across diverse socio-economic segments. Among surveyed users UPI has .

Aim to expand UPI's footprint with East Asia push: DFS secy M Nagaraju

Nagaraju further said UPI transactions crossed more than 21 billion in December 2025, underlining the rapid adoption of digital payments in the country

India's UPI to be accepted in Cambodia under NPCI-ACLEDA partnership

NPCI International and ACLEDA Bank have partnered to enable UPI and KHQR acceptance in India and Cambodia, offering tourists secure, interoperable and seamless QR-based payments

UPI sees mild November dip to 20.47 bn transactions worth ₹26.32 trn

Compared to November 2024, the month witnessed a 32 per cent rise in volume and 22 per cent in value

ULI 'turning point' in providing affordable credit: RBI deputy governor

Upcoming digital platform has the potential to achieve transformative impact of UPI, says Swaminathan J

A fine balance for fintech as investors put compliance ahead of valuation

Industry that was touted to overtake legacy banks and financial institutions gets wake-up call

No FASTag for tolls? Relief on penalty if paid through UPI, says govt

Now non-FASTag users to pay 1.25x, not 2x of toll if paying via UPI

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

Field agents at a crossroads: The BC channel is ripe for being reimagined

The business correspondent channel is sought to be reworked with more offerings being hawked on it

Number of UPI apps grows in 2024, yet top two command maximum market share

In 2024, NPCI issued 20 third party application approvals. This was much higher than three and four issuances in 2022 and 2023 respectively

About 4 out of 10 individuals in rural, semi-urban India prefer UPI: Report

Yet UPI is the most preferred mode of financial transactions in such regions

UPI volume up 52% in H1CY24, transaction value rises 40%: Report

A decreasing average ticket size of transactions on the payments system indicates that it is increasingly being used to conduct small-value transactions

Launched in 2019, Amazon Pay's UPI offering crosses 100 mn customers mark

Amazon Pay on Monday said its UPI offering is witnessing widespread adoption across the country with over 100 million customers using the service. Launched in 2019, Amazon Pay UPI has witnessed strong user preference from across big states of Maharashtra, UP, Bihar, West Bengal, Karnataka, the company said in a statement. The 18-24-year age bracket led the adoption of Amazon Pay UPI, it added. "We are humbled and proud that 100M customers have chosen Amazon Pay UPI as their preferred choice of online payment experience. We are excited to continue to innovate and expand our offerings to simplify lives and fulfil aspirations for millions across India," Amazon Pay India CEO Vikas Bansal said. Mobile recharges, utility bill payments and e-commerce transactions were among the top use cases of Amazon Pay UPI, the statement added.

Swiggy rolls out in-app UPI feature for faster payments: How to activate

Branded as Swiggy UPI, the feature aims to cut on the transaction time from over 15 seconds to just 5 seconds