UPI Completes 10 Years, Transaction Volume Rises Nearly 13,000-Fold

The Unified Payments Interface (UPI) has completed 10 years since its launch on August 25, 2016, marking a decade of transforming digital payments in India, according to News On AIR. The platform has emerged as the backbone of the country's digital payments ecosystem, with transaction volume surging nearly 13,000-fold over the period.

India's Finance Ministry said annual transaction volume expanded from 1.78 crore transactions in 2016-17 to more than 24,162 crore transactions in 2025-26. Transaction value rose sharply over the same period, from ₹7,000 crore to nearly ₹314 lakh crore, according to the ministry.

The UPI 10th anniversary milestone also highlights the platform's expansion beyond India's borders. The ministry said UPI is now operational in 11 countries, including the United Arab Emirates, France, Bhutan, Sri Lanka, Nepal, Singapore, Mauritius, Qatar, Cambodia, Greece and the Maldives, positioning it as a global platform for cross-border digital payments.

UPI has become one of the most successful pillars of India's Digital Public Infrastructure, providing an interoperable, real-time payments platform used by millions. The Finance Ministry said UPI digital payments have bridged the digital divide, advanced financial inclusion, and expanded access to digital financial services, empowering individuals and communities while driving broader economic participation.

The scale and reliability of UPI transaction volume growth have drawn international recognition. The Finance Ministry said the International Monetary Fund has acknowledged UPI as the world's largest real-time payment system. As of 2025, UPI accounts for nearly 49% of the world's real-time payment transaction volume, according to the ministry.

The milestone reflects a broader shift in India digital payments adoption over the past decade, with UPI now serving as the preferred payment method for millions of users across the country. Further details on UPI's growth and international expansion are available via the National Payments Corporation of India.

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