India is continuously making new records in digital payments. In this sequence, Indians have shown tremendous enthusiasm in transactions through UPI during the financial year 2025-26. The government informed Rajya Sabha on Tuesday that the total value of transactions done through Unified Payments Interface i.e. UPI has reached a record Rs 230 lakh crore till December in the current financial year 2025-26. Answering supplementary questions during the Question Hour, Minister of State for Finance Pankaj Chaudhary said that UPI transactions are continuously increasing rapidly. He said that at the domestic level, transactions worth Rs 230 lakh crore have been done through UPI till December in the financial year 2025-26, whereas in the financial year 2022-23 this figure was only Rs 139 lakh crore.
UPI is now spreading rapidly outside India also
According to the news, the minister also said that UPI is now spreading rapidly outside India and is being used with currency conversion in eight countries, where local laws are being followed in its operation. Earlier, in a written reply in Parliament, Finance Minister Nirmala Sitharaman had said that currently UPI is working in Bhutan, France, Mauritius, Nepal, Qatar, Singapore, Sri Lanka and UAE.
The world’s largest retail fast-payment system
The Minister of State for Finance said that the Government, Reserve Bank of India (RBI) and NPCI International Payments Limited (NIPL) are continuously taking steps for the international expansion of UPI. These include linking UPI with fast payment systems of partner countries to facilitate cross-border person-to-person (P2P) remittances and travel-based person-to-merchant (P2M) payments.
He further informed that in the International Monetary Fund (IMF) June 2025 report ‘Growing Retail Digital Payments (The Value of Interoperability)’, UPI has been recognized as the world’s largest retail fast-payment system in terms of transactions. Additionally, according to ACI Worldwide’s 2024 report, UPI accounts for approximately 49 per cent of global real-time retail payments, reflecting its global strength and scale.
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