New Delhi, Aug 25 (HS): Prime Minister Narendra Modi on Tuesday hailed the growth of the Unified Payments Interface (UPI), describing its decade-long journey as a major milestone in India's digital payments transformation.

Marking 10 years of UPI, Modi said its scale and reach were something every Indian should be proud of. In a post on X, he said the rollout of UPI a decade ago marked a major turning point in India's digital payments journey.

The Prime Minister also invited people to share their experiences of using UPI and explain how the digital payment platform has changed their daily lives.

Union Home Minister Amit Shah also highlighted the growth of UPI, saying India's digital payments system had demonstrated what could be achieved through innovation and the Digital India initiative. He described UPI as an example of India's transformation through technology and said it had empowered people with a fast, seamless and secure payment interface.

Developed by the National Payments Corporation of India (NPCI), UPI has emerged as a major component of India's digital payments ecosystem. According to the information shared by the government, the platform is now operational in 11 countries, with Greece and the Maldives among the latest countries to adopt it.

UPI is also operational in Bhutan, Nepal, Singapore, the UAE, France, Sri Lanka, Mauritius and Qatar, enabling digital payments across participating countries.

The system has recorded substantial growth in transaction volume and value since its launch. According to the Union Finance Ministry, annual UPI transactions increased from 1.78 crore in financial year 2016-17 to more than 24,162 crore in 2025-26.

The corresponding transaction value rose from Rs 0.07 lakh crore in 2016-17 to around Rs 314 lakh crore in 2025-26, the ministry said.

As of July 2026, the UPI network had 741 live banks. During July, it processed 2,365.8 crore transactions amounting to Rs 29.87 lakh crore.

UPI accounted for nearly 49 per cent of global real-time payment transactions in 2024, according to the information provided in the report. The International Monetary Fund has also highlighted India's progress in retail digital payments.

The platform has continued to add features aimed at making digital payments more accessible. On-device authentication introduced in 2025 allows users to approve UPI payments using smartphone fingerprint or face-unlock features.

Aadhaar-based face authentication has also been introduced to facilitate UPI PIN onboarding, particularly for first-time users and senior citizens.

The decade-long expansion of UPI has placed digital payments at the centre of India's rapidly evolving financial ecosystem, while its growing international presence has extended India's digital payment infrastructure beyond the country.

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Hindusthan Samachar / Jun Sarkar