Number of UPI users onboarded on the payments platform, Pg10

Key Highlights:

• Around 55.49 crore users were onboarded on the Unified Payments Interface (UPI) platform until June 2026.
• UPI transactions reached 24,162 crore in volume and ₹314 lakh crore in value during the Financial Year 2025-26.
• These figures were shared by Minister of State for Finance Pankaj Chaudhary in a written reply in the Lok Sabha.
• UPI is operated by the National Payments Corporation of India (NPCI) under the Payment and Settlement Systems Act, 2007.

Detailed Insights:

• UPI has demonstrated sustained growth in both transaction volume and value over the past five financial years, becoming the largest real-time payment system globally.
• The National Payments Corporation of India (NPCI), established in 2008, is a government-sector company that develops and operates retail payment and settlement systems in India.
• NPCI International Payments Ltd (NIPL), a wholly-owned subsidiary of NPCI, is actively expanding UPI and the RuPay card scheme to international markets, facilitating cross-border payments.
• The Government, Reserve Bank of India (RBI), and NPCI have implemented various security measures, including risk-based transaction limits and comprehensive security frameworks, to enhance the safety and resilience of the UPI ecosystem.
• UPI's success is a key component of India's broader Digital India campaign, promoting a cashless economy and advancing financial inclusion.

Key Concepts Involved:

• Unified Payments Interface (UPI): An instant real-time payment system developed by NPCI that facilitates inter-bank peer-to-peer and person-to-merchant transactions via mobile devices.
• National Payments Corporation of India (NPCI): An umbrella organization for operating retail payments and settlement systems in India, an initiative of the RBI and Indian Banks' Association.
• Digital Payments: Electronic methods of transferring money or making payments without the use of physical cash, encompassing online banking, mobile wallets, and UPI.
• Financial Inclusion: The process of ensuring access to useful and affordable financial products and services for individuals and businesses, particularly vulnerable groups, in a responsible and sustainable way.