UPI fast-payment system is now recognised as the world’s largest retail fast-payment platform, according to a recent International Monetary Fund (IMF) assessment. The report highlights India’s strong rise in digital payments, supported by clear policies, rapid merchant involvement and widespread acceptance across the country.

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UPI fast-payment system: Gains Global Recognition

The IMF’s June 2025 assessment placed UPI at the top of all real-time retail payment systems worldwide. ACI Worldwide’s 2024 study also found that UPI handles almost 49% of global real-time payment transactions. This makes India far ahead of countries such as Brazil, Thailand, China and South Korea in digital payment volume.

Support from Government and Regulators

UPI’s growth comes from strong coordination between the Government of India, the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI). Programmes encouraging small-value BHIM-UPI payments and infrastructure support through the Payments Infrastructure Development Fund (PIDF) have pushed digital services deeper into smaller towns. By October 2025, more than 5.45 crore digital touchpoints were active in tier-3 to tier-6 regions.

Merchant Adoption and Expanding Ecosystem

A massive QR code network—around 57 crore QR codes by FY 2024–25—has brought nearly 6.5 crore merchants into the UPI system. UPI is now used in public services, online shopping, travel systems and local shops. This wide usage helped India reach 129.3 billion real-time transactions, almost half of the global total.

Key Facts

IMF recognised UPI as the world’s largest fast-payment system in 2025.
UPI handles nearly 49% of global real-time payment volumes.
India recorded 129.3 billion transactions, ahead of countries like Brazil and Thailand.
More than 5.45 crore digital payment touchpoints were supported through the PIDF scheme.

UPI in the Global Payments Space

India’s strong presence in global real-time payments shows the success of UPI’s simple, open and interoperable system. Many countries are now studying India’s digital payments model to build similar platforms. UPI continues to shape the global narrative around secure, inclusive and scalable digital payments.