Mumbai/ Bhopal, September 9, 2026

India’s Unified Payments Interface (UPI) has entered a new phase of growth. After transforming everyday payments at home, the country’s home-grown payment system is now being pushed towards wider global use. UPI recorded an all-time high of 24.51 billion transactions in August. These transactions were valued at about $314 billion, or nearly Rs 27.6 lakh crore, according to data released by the National Payments Corporation of India. UPI payment facilities are now available in 11 countries.

Prime Minister Narendra Modi used the milestone to call for faster international expansion of the platform. Addressing the seventh edition of the Global Fintech Fest in Mumbai on Tuesday, he urged India’s fintech sector to connect UPI with the domestic payment systems of more countries.

Modi said priority could be given to countries that have a large Indian population, strong trade relations with India or an interest in digital cooperation. Such linkages could make payments easier for Indian travellers, businesses and people working abroad. Millions of Indians living overseas regularly send money to their families. A part of that money is lost in transaction charges, while conventional transfers can also take time. Wider UPI connectivity could reduce these costs and make cross-border transfers faster.

The India-Singapore linkage offers an early working model. UPI was connected with Singapore’s PayNow system in 2023. It allows users in the two countries to send money directly through a mobile number or payment identity.

UPI payment facilities or merchant acceptance arrangements have now reached Singapore, the UAE, France, Nepal, Bhutan, Sri Lanka, Mauritius, Qatar, Cambodia, Greece and the Maldives, according to media reports. However, the nature and scale of the service differ from one country to another. Some countries allow Indian visitors to make payments at selected merchants through UPI. Others are moving towards closer links between their domestic payment networks and the Indian platform. Singapore currently has the most prominent direct cross-border linkage.

Launched in 2016, UPI began as a simple facility for instant bank-to-bank transfers. It has since become the backbone of India’s digital payment system. Its reach now extends from street vendors and small shops to large businesses, utility services and online commerce.

The August figures show how deeply UPI has entered daily life in India. The platform’s rapid growth has also strengthened the country’s case for offering its digital public infrastructure as a practical model to other nations.

The global push is not limited to convenience. It could support trade, reduce dependence on costly international payment channels and make remittances more affordable. It could also give India a stronger role in shaping future global payment standards.

Prime Minister Narendra Modi also asked fintech companies to look beyond payments and work on cybersecurity, consumer protection and data security. He urged the industry to convert emerging technologies, including artificial intelligence, tokenisation and quantum computing, into practical solutions.

UPI has become part of everyday life in India because it is fast, simple and easy to use. Taking the system abroad will require close coordination among governments, regulators, banks and payment networks. The record August figures have strengthened this push, with wider global access expected to benefit Indian travellers, businesses and millions of Indians living overseas.