Unified Payments Interface (UPI) has surpassed Visa to emerge as the leading global real-time payment platform, handling over 650 million transactions each day.
Amitabh Kant, former NITI Aayog CEO, celebrated the achievement on X, stating, “UPI overtakes Visa as the world’s foremost real-time payment platform, handling over 650 million transactions each day.”
He remarked that achieving this milestone in just 9 years reflects the extraordinary speed and scale of its expansion.
UPI is driving the digital payment revolution, from India to the global stage. In its 9 years of existence it has proved its unmatched global potential.
UPI reached an impressive benchmark by handling 650.26 million daily transactions, outpacing Visa’s daily transaction count of 639 million. This noteworthy achievement emphasizes UPI’s swift expansion and leadership in the digital payments arena, highlighting its growing customer base and widespread acceptance nationwide.
A recent IMF Fintech Note, Growing Retail Digital Payments: The Value of Interoperability, recognizes India as the world frontrunner in fast payments. Since its introduction in 2016, UPI has witnessed rapid expansion, while conventional payment methods such as debit and credit cards are seeing a decrease in usage.
Created by NPCI, UPI is a real-time mobile inter-bank payment platform that handles over 18 billion transactions per month, leading India’s electronic retail payments sector.
