Go Unlimited with Magzter GOLD
Get unlimited access to 9,500+ magazines, newspapers and Premium stories for just
Try GOLD - Free
India's UPI Revolutionized Digital Payments
The Daily Guardian
|July 22, 2025
India has emerged as the global leader in fast payments, according to a recent note by the International Monetary Fund titled Growing Retail Digital Payments: The Value of Interoperability.
At the heart of this transformation is the Unified Payments Interface, better known as UPI. Launched in 2016 by the National Payments Corporation of India, UPI has changed how people send and receive money in the country.
It brings all your bank accounts together in one mobile app. You can transfer money instantly, pay merchants, or send funds to friends with just a few taps. Its appeal lies in its speed and ease of use. Today, UPI processes over 18 billion transactions every month in India.
This shift has taken India away from cash and card-based payments and pushed it towards a digital-first economy. Millions of individuals and small businesses now rely on UPI for safe and low-cost transactions. By making payments quick and accessible, UPI has become a powerful tool for financial inclusion.
India's leadership in real-time payments is not an accident. It reflects years of bold digital groundwork and a vision to use technology for inclusive growth. UPI is no longer just a payment system. It is a global benchmark for innovation in public digital infrastructure.
UPI IN FIGURES: A SNAPSHOT OF SUCCESS The scale of UPI today is remarkable. In June 2025 alone, it handled over Rs 24.03 lakh crore in payments. This was spread across 18.39 billion transactions. Compared to the same month last year, when there were 13.88 billion transactions, the growth is clear. There is an increase of about 32 per cent in just one year.
The UPI system now serves 491 million individuals and 65 million merchants. It connects 675 banks on a single platform, allowing people to make payments easily without worrying about which bank they use.
Today, UPI accounts for 85 per cent of all digital transactions in India. Its impact goes beyond national borders, powering nearly 50 per cent of global real-time digital payments.
This story is from the July 22, 2025 edition of The Daily Guardian.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 9,500+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Daily Guardian
The Daily Guardian
Assam blockade cripples supplies; fuel dries up in Dibrugarh
The economic blockade imposed by the Moran community entered its fourth day on Thursday, choking vital supply lines and stranding hundreds of trucks carrying fuel and essential goods along NH-37 and NH-315A in Assam’s Tinsukia district.
1 min
September 20, 2025
The Daily Guardian
ABVP sweeps DUSU polls, HC slams poll violations
The BJP-affiliated Akhil Bharatiya Vidyarthi Parishad (ABVP) secured a decisive victory in the Delhi University Students’ Union (DUSU) elections on Friday, clinching three ofthefourtop posts, including President, Secretary, and Joint Secretary.
1 mins
September 20, 2025
The Daily Guardian
Terror strike in Manipur's Bishnupur: Two Assam Rifles personnel dead, five injured
Two Assam Rifles personnel, including a Junior Commissioned Officer, were killed and five others injured in a terrorist ambush at Nambol Sabal Leikai in Manipur’s Bishnupur district on Friday evening.
1 min
September 20, 2025
The Daily Guardian
Rahul Gandhi accuses EC, BJP of 'vote theft'; BJP hits back
Congress leader Rahul Gandhi on Friday accused the Election Commission (EC) and the Bharatiya Janata Party (BJP) of colluding in large-scale “vote theft”, triggering a sharp counterattack from senior BJP leaders who dismissed his claims as lies and dangerous rhetoric.
1 mins
September 20, 2025
The Daily Guardian
ECI DELISTS 474 MORE POLITICAL PARTIES, ACTION AGAINST 359
The Election Commission of India (ECI) on Friday delisted 474 Registered Unrecognised Political Parties (RUPPs) for failing to contest any election over the past six years. With this, the total number of RUPPs removed from the official registry has risen to 808 in the last two months.
1 mins
September 20, 2025
The Daily Guardian
India weighs Chabahar sanctions fallout, monitors Saudi-Pakistan pact
India on Friday said itis “examining the implications” of the United States’ decision to revoke the sanctions waiver on Iran’s Chabahar Port project, even as it responded to the Saudi Arabia-Pakistan defence pact and reaffirmed support to Nepal’s new interim government.
1 mins
September 20, 2025
The Daily Guardian
Tejashwi distances RJD from Rahul's 'vote theft' push
The Rashtriya Janata Dal (RJD) is distancing itself from Congress leader Rahul Gandhi's “vote theft” campaign, with Tejashwi Yadav choosing to focus his Bihar Adhikar Yatra on local issues and Chief Minister Nitish Kumar rather than Prime Minister Narendra Modi.
1 min
September 20, 2025
The Daily Guardian
Russia launched 90 drones: Volodymyr Zelenskyy
Ukrainian President Volodymyr Zelenskyy on late Thursday night (Friday in India) accused Russia of carrying out a massive overnight drone assault, launching nearly 90 UAVs across several regions, and urged stronger international measures to push Moscow toward diplomacy.
1 min
September 20, 2025
The Daily Guardian
Shah assures all possible help, holds talks with CM Dhami over phone
Union Home Minister Amit Shah on Friday held a telephonic conversation with Uttarakhand Chief Minister Pushkar Singh Dhami regarding the recent disaster in the state and the progress of ongoing relief and rescue operations.
1 mins
September 20, 2025
The Daily Guardian
Singer Zubeen Garg dies in scuba diving accident in Singapore
Popular Assamese singer Zubeen Garg, best known nationwide for the hit track Ya Ali, died on Friday following a scuba diving accident in Singapore. He was 52.
1 mins
September 20, 2025
Listen
Translate
Change font size