UPI completes 10 years of digital payments, sees 13,000-fold surge in transaction volume, 4,000-fold rise in value
India's Unified Payments Interface (UPI) has marked its 10th anniversary with a massive 13,000-fold increase in transaction volume since 2016. The platform is now recognized as a global leader in real-time digital payment infrastructure.
Why it matters
UPI's success demonstrates the potential for government-backed digital public infrastructure to drive financial inclusion and economic participation on a massive scale.
The Unified Payments Interface (UPI), launched on 25 August, 2016, by the National Payments Corporation of India (NPCI) has completed 10 years of transforming digital payments in India.
UPI has emerged as the backbone of India’s digital payments ecosystem and a critical driver of financial inclusion, the Union Finance Ministry said.
Over the decade, UPI’s annual transaction volume expanded from 1.78 crore transactions in FY17 to over 24,162 crore transactions in FY26, representing a 13,000‑fold surge in transaction volume.
Transaction value rose sharply from ₹0.07 lakh crore in FY17 to approximately ₹314 lakh crore in FY26, translating into a more than 4,000‑fold increase in transaction value, the ministry said.
UPI is currently operational in 11 countries.
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