Mumbai
Unified Payments Interface (UPI) has become an integral part of daily life in India, serving over 500 million consumers and 65 million merchants. The platform has not only simplified payments but also promoted financial inclusion, expanded access to credit, and supported growth for micro and small businesses across the country.
The report, launched at the Global Fintech Fest (GFF) 2025 by the National Payments Corporation of India (NPCI) and Boston Consulting Group (BCG), highlights UPI’s remarkable impact. It now accounts for nearly half of global real-time payment volumes and 84 per cent of India’s retail digital payments. Its reach spans 99 per cent of India’s 19,000+ pin codes, driving economic activity nationwide.
UPI innovations, such as LiteX for offline payments, tap-and-pay, UPI for IPO subscriptions, Credit Card on UPI, and UPI Autopay, are expanding its role from simple payments to broader financial services. Between FY23 and FY25, consumer durable loans grew 10x, personal loans 4.4x, and business loans 4.2x in high-UPI adoption districts. Two in three users report better access to financing, and eight in ten merchants note improved staff productivity with tools like UPI Soundbox.
“UPI is transforming how people pay and businesses operate while earning global recognition for its secure, scalable digital infrastructure. It is bringing MSMEs into the formal economy, empowering women, and increasing credit access,” said Sohini Rajola, ED – Growth, NPCI.
As India moves toward its Viksit Bharat 2047 vision, UPI continues to strengthen financial infrastructure, accelerate digital adoption, and set a worldwide benchmark for inclusive, interoperable, and innovative payment solutions.
