New Delhi, October 16, 2025 – India has emerged as a global leader in digital payments, with a remarkable 85% of all digital transactions in the country being processed through the Unified Payments Interface (UPI). This was announced by Reserve Bank of India (RBI) Governor Sanjay Malhotra during a high-level dialogue in Washington, D.C. The event, titled “High-Level Dialogue on Forging Economic Resilience through Digital Public Platforms,” was organized by the RBI on the sidelines of the Annual Meetings of the World Bank and International Monetary Fund.
Governor Malhotra emphasized that India's success with UPI and other Digital Public Platforms (DPPs) positions it as a compelling case study for other nations seeking to build inclusive, secure, and scalable digital ecosystems. He highlighted the cost-efficient and resilient nature of these systems, emphasizing that they are built as a public good.
UPI has revolutionized financial transactions in India, facilitating approximately 20 billion transactions every month, which amounts to over $280 billion in value. The platform's interoperability and favorable regulatory environment have solidified its position as the backbone of India's payment landscape.
The Governor also spoke about how foundational platforms like Aadhaar for digital identity and UPI for real-time payments have driven innovation and broadened financial inclusion, particularly in the realm of government transfer payments. These platforms empower both public and private entities to swiftly create applications across various sectors, including credit, health, social protection, and agriculture.
Furthermore, India is actively collaborating with other countries to develop similar sovereign payment systems based on the UPI model through bilateral agreements and technology transfers. India has already begun linking UPI with global payment networks such as Singapore's PayNow and is enabling cross-border merchant payments via UPI QR codes.
The government is also planning to introduce biometric authentication for UPI payments to enhance security.
