Key Points
- UPI processed 24,162 crore transactions worth ₹314 lakh crore in FY 2025-26
- Platform grew from 21 banks at launch to 703 banks by March 2026
- IMF recognises UPI as world's largest real-time payment system by volume
India’s Unified Payments Interface completed ten years of operations on 11 April 2026, having grown from a pilot project with 21 banks to a system that now processes 66 crore transactions daily and handles 85 per cent of all digital payments in the country.
The platform, built by the National Payments Corporation of India under RBI oversight, recorded 24,162 crore transactions worth ₹314 lakh crore in FY 2025-26, according to NPCI data. This represents a 30 per cent increase in transaction volume and a 20.59 per cent rise in value compared to the previous financial year.
The International Monetary Fund has recognised UPI as the world’s largest real-time payment system by transaction volume. India now accounts for 49 per cent of all real-time digital payments globally, according to NPCI figures.
Growth from pilot to nationwide infrastructure
When UPI launched in April 2016, it processed just 373 transactions in its first month through 21 participating banks. By March 2026, monthly volumes had reached 2,264 crore transactions — a record — with 703 banks live on the platform.
The system’s expansion reflects its penetration across India’s banking sector. Public sector banks, private banks, small finance banks, payment banks and cooperative banks now participate, enabling UPI access in both urban centres and rural areas.
Annual transaction volume expanded from 2 crore in FY 2016-17 to over 24,162 crore in FY 2025-26. Transaction value rose from ₹0.07 lakh crore to approximately ₹314 lakh crore over the same period.
Calendar year 2025 marked several firsts for the platform. Monthly transaction volumes crossed2,000 crore for the first time in August 2025, reaching 2,001 crore transactions. December 2025 recorded 2,163 crore transactions, the highest monthly volume in UPI’s history at that point.
Over the full calendar year, UPI processed approximately 22,000 crore transactions, averaging about 60 crore transactions per day.
International expansion
UPI is now accepted in eight countries, enabling Indian travellers and businesses to use the platform abroad. The international rollout has positioned India’s payment infrastructure as a model for other nations developing real-time payment systems.
The platform’s growth has come without transaction fees for most retail users — a policy that has drawn both praise for accessibility and questions about long-term sustainability from payment industry observers.
Your Questions, Answered
How many transactions does UPI process daily?
UPI processes approximately 66 crore transactions daily as of FY 2025-26, according to NPCI data. This translates to about ₹0.86 lakh crore in daily transaction value.
How many banks are live on UPI?
As of March 2026, 703 banks are live on UPI, up from 21 banks when the platform launched in April 2016. These include public sector banks, private banks, small finance banks, payment banks and cooperative banks.
What share of India's digital payments does UPI handle?
UPI handles 85 per cent of all digital payments in India as of FY 2025-26, making it the dominant payment platform in the country's digital economy.
In how many countries is UPI accepted?
UPI is currently accepted in eight countries, enabling Indian users to make payments abroad using the platform.
