UPI Surges to Record High with 22.64 Billion Transactions in March

The Unified Payments Interface (UPI) reached a record 22.64 billion transactions in March, highlighting a 24% growth from the previous year. This digital payment system now accounts for 85% of India's digital transactions and is expanding internationally, entering eight countries, including France—a significant European milestone.

The Unified Payments Interface (UPI) achieved a new milestone in March, recording 22.64 billion transactions in volume terms, marking a growth of 24% compared to the previous year. This surge demonstrates India's strong embrace of digital payments.

UPI demonstrates not only domestic influence but also international expansion, with operations currently live in eight countries such as the UAE, Singapore, and France. The entry into France signifies UPI's first foray into Europe, easing transactions for Indians residing or traveling there.

As an initiative by the Reserve Bank of India (RBI) and Indian Banks' Association (IBA), UPI combines ease with security, ensuring rapid and safe transactions. It now powers nearly 50% of global real-time digital payments, reshaping how people transact across borders.

(With inputs from agencies.)