Executive Summary
This report details the significant growth and international expansion of the Unified Payments Interface (UPI), which reached 55.49 crore onboarded users by June 2026. It highlights that in FY 2025-26, transaction volumes reached 24,161.69 crore with a value of ₹314.23 lakh crore. The document outlines security frameworks implemented by the Government, RBI, and NPCI to curb fraud and facilitate seamless cross-border P2P and P2M transactions across 12 partner countries.
Key Points / Main Content
Transaction Growth and User Adoption
User Base: As of June 2026, approximately 55.49 crore users have been onboarded on the UPI platform.
Five-Year Growth: Transaction volume rose from 4,595.61 crore in FY 2021-22 to 24,161.69 crore in FY 2025-26.
Transaction Value: The total value of transactions increased from ₹84.16 lakh crore in FY 2021-22 to ₹314.23 lakh crore in FY 2025-26.
Security and Transparency Initiatives
Risk Management: Implementation of risk-based transaction limits to prevent fraudulent activities.
Authentication Safeguards: Enhanced protection against unauthorized mobile number changes and the misuse of SMS-based authentication.
Regulatory Frameworks: NPCI issued the Comprehensive UPI Information Security Framework (CUISF) 2025 and the Mobile Application Security Framework.
Application Standards: Mandated advanced security controls to improve the resilience and safety of the UPI ecosystem.
International Expansion and Global Partnerships
NIPL Objective: NPCI International Payments Ltd. (NIPL) partners with foreign entities to deploy UPI and RuPay schemes in international markets.
Cross-Border Functionality: UPI is linked with international systems to facilitate Person-to-Person (P2P) remittances and Person-to-Merchant (P2M) payments.
Partner Countries: Active partnerships include Bhutan, Singapore, UAE, France, Mauritius, Sri Lanka, Nepal, Qatar, Greece, and Cambodia, with the most recent activations in Greece (May 2026), Nepal (P2P, June 2026), and Cambodia (June 2026).
Impact Analysis
Indian Tourists and DiasporaImpact
Individuals traveling abroad or living overseas can perform seamless cross-border P2P remittances and P2M transactions using familiar payment infrastructure.
Action Required
Utilize UPI-linked applications at authorized partner institutions in supported countries for international payments.
UPI Application Providers and Financial InstitutionsImpact
Entities operating UPI applications are subject to stricter security mandates and operational frameworks to strengthen ecosystem resilience.
Action Required
Comply with the Comprehensive UPI Information Security Framework (CUISF) 2025 and the Mobile Application Security Framework by implementing advanced security controls.
International Partner EntitiesImpact
Foreign banks and payment providers (e.g., Eurobank S.A., Acleda Bank PLC) benefit from technical assistance in building real-time payment infrastructures similar to UPI.
Action Required
Collaborate with NIPL to integrate local payment systems with UPI for P2P and P2M service delivery.
Key Entities Referenced
Unified Payments Interface (UPI): A real-time payment system operated by NPCI that facilitates person-to-person and person-to-merchant transactions.
National Payments Corporation of India (NPCI): The primary organization responsible for operating the UPI platform and issuing security frameworks for the ecosystem.
Payment and Settlement Systems Act, 2007: The legislation under which the Unified Payments Interface is authorized to operate in India.
NPCI International Payments Ltd. (NIPL): A subsidiary of NPCI tasked with expanding payment platforms like UPI and RuPay to international markets.
Comprehensive UPI Information Security Framework (CUISF) 2025: A framework issued by NPCI mandating advanced security controls to strengthen the safety and resilience of the UPI ecosystem.
Ministry of Finance
Nearly 55.49 Crore Users Onboarded on UPI as
in June 2026
UPI transactions grow 24,162 Cr in Volume and 314 lakh Cr in
Value in FY 2025-26
Government, RBI and NPCI take various initiatives to make
UPI-based transactions secure and transparent, which
include risk-based transaction limits to curb fraudulent
transactions, enhanced security requirements for UPI
applications, among others
प्रव तथ: 20 JUL 2026 4:42PM by PIB Delhi
The Unified Payments Interface (UPI) is a payment system operated by National Payments
Corporation of India (NPCI), authorised under the Payment and Settlement Systems Act,
2007.
The NPCI has informed that there were 55.49 crore users onboarded on UPI platform as in
June 2026. The details of UPI transactions volume and value is given below:
UPI transactions during the last five financial years
Financial Year Volume (in Crore) Value (in lakh Crore)
FY 2021-22 4,595.61 84.16
FY 2022-23 8,371.44 139.15
FY 2023-24 13,112.95 199.95
FY 2024-25 18,586.60 260.56
FY 2025-26 24,161.69 314.23
NPCI International Payments Ltd. (NIPL) is a wholly owned subsidiary of NPCI, incorporated in April
2020 with the objective of partnering with foreign entities to take various NPCI payment platforms, such
as UPI and the RuPay card scheme, to international markets. This enables Indian tourists and the Indiandiaspora to make seamless cross-border payments while assisting partner countries and entities in building
their payment infrastructure, such as UPI-like real-time payment systems or RuPay like domestic card
schemes.
In order to make UPI-based transactions secure and transparent, various initiatives have
been undertaken by the Government, RBI and NPCI from time to time. These, inter alia,
include risk-based transaction limits to curb fraudulent transactions, safeguards against
unauthorized mobile number changes and misuse of SMS-based authentication, as well as
enhanced security requirements for UPI applications. Further, NPCI has issued the
Comprehensive UPI Information Security Framework (CUISF) 2025 and the Mobile
Application Security Framework, mandating advanced security controls to strengthen the
safety and resilience of the UPI ecosystem.
UPI is linked with the payment systems of various countries to facilitate Person-to-Person
(P2P) remittances and Person-to-Merchant (P2M) transactions. The details of these
countries, along with the respective partner institutions, is given below:
Countries using UPI along with Partner institutions
Sl. Country Live for Partner Institution Live since
1 Bhutan P2M RMA Bhutan July 2021
2 Singapore P2M NETS Singapore Pte. Ltd., HitPay Payment August 2021
Solutions Pte. Ltd., LiquidPay Group Pte. Ltd.
3 UAE P2M Mashreq Bank PSC (NeoPay), April 2022
Network International
Magnati-Sole Proprietorship LLC
4 Singapore P2P BCS Paynow February 2023
5 France P2M LYRA Network February 2024
6 Mauritius P2M Bank of Mauritius February 2024
7 Sri Lanka P2M Lanka Pay Pvt. Ltd. February 2024
8 Nepal P2M FonePay Payment Services Ltd. March 2024
9 Qatar P2M Qatar National Bank September 2025
10 Greece P2P Eurobank S.A. May 2026
11 Nepal P2P Nepal Clearing House Limited (NCHL) June 202612 Cambodia P2M Acleda Bank PLC June 2026
This information was given by the Minister of State in the Ministry of Finance Shri Pankaj Chaudhary in a
written reply to a question in Lok Sabha today.
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