UPI is World’s Largest Fast-Payment System: IMF Report
A recent International Monetary Fund assessment has recognised India’s Unified Payments Interface as the world’s largest retail fast-payment system by transaction volume. The finding highlights India’s rise as a global leader in digital payments, driven by strong policy support and rapid merchant adoption nationwide.
Global Recognition for UPI’s Scale
The IMF’s June 2025 report on retail digital payments identified UPI as the biggest real-time payments platform globally. Complementing this, ACI Worldwide’s 2024 analysis estimated that UPI accounts for nearly 49% of total global real-time payment transactions, far surpassing systems in Brazil, Thailand, China and South Korea.
Government and Regulatory Push
UPI’s expansion is supported by coordinated initiatives from the Government, RBI and NPCI. Programmes promoting low-value BHIM-UPI transactions and infrastructure grants through the Payments Infrastructure Development Fund have accelerated digital penetration across smaller cities. By October 2025, over 5.45 crore digital touchpoints were deployed across tier-3 to tier-6 centres.
Merchant Integration and Ecosystem Growth
A large network of QR codes—nearly 57 crore as of FY 2024–25—has helped onboard around 6.5 crore merchants. UPI is now embedded across public services, e-commerce, transport systems and small retail businesses. This extensive acceptance has contributed to India recording 129.3 billion real-time transactions, representing nearly half of the global total.
Exam Oriented Facts
UPI’s Position in the Global Payments Landscape
India’s share in global transactions reflects both domestic adoption and the interoperability-driven design of UPI. With other nations studying India’s model for replication, UPI continues to strengthen its profile as a benchmark for inclusive, scalable and real-time digital payments worldwide.
| Related | |
|---|---|
