India’s Unified Payments Interface (UPI) has completed 10 years of transforming the country’s digital payments ecosystem, marking a decade of remarkable growth in transaction volume and value. Launched on August 25, 2016, by the National Payments Corporation of India (NPCI), UPI has become the backbone of digital payments and a key driver of financial inclusion.
According to the Union Finance Ministry, UPI’s annual transaction volume has grown from just 1.78 crore transactions in the financial year 2016-17 to more than 24,162 crore transactions in 2025-26. This represents an almost 13,000-fold increase over the past decade. The value of transactions has also witnessed a massive jump, rising from ₹0.07 lakh crore in FY17 to nearly ₹314 lakh crore in FY26, recording a more than 4,000-fold growth.
The ministry highlighted that UPI has evolved into one of the strongest pillars of India’s Digital Public Infrastructure (DPI), offering an interoperable, real-time payment platform for both peer-to-peer and merchant transactions through a single application. Today, it is the preferred payment method for millions of users across the country.
Officials said UPI has played a significant role in bridging the digital divide by expanding access to financial services and encouraging greater financial inclusion. Its seamless and instant payment system has empowered individuals, small businesses and communities while boosting economic participation across urban and rural India.
The platform has also expanded its global footprint and is currently operational in 11 countries, reflecting India’s growing influence in digital financial innovation. The Finance Ministry noted that UPI’s scale, reliability and interoperability have earned international recognition, with the International Monetary Fund (IMF) acknowledging it as the world’s largest real-time payment system by transaction volume.
As UPI enters its second decade, the government expects the platform to continue driving innovation in digital payments while strengthening India’s position as a global leader in digital public infrastructure.
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