India · Account Transfer + QR · Est. 2016
Unified Payments Interface is a real-time interbank payment system built on top of IMPS infrastructure, enabling instant mobile payments via QR code, phone number, Aadhaar, or virtual payment address (VPA). With 300+ participating banks and 50+ third-party apps (Google Pay, PhonePe, Paytm), UPI processes 14B+ transactions per month and has become India's dominant payment method for both P2P and merchant payments. Now expanding internationally with cross-border linkages to Singapore's PayNow and other ASEAN systems.
UPI is India’s real-time payment system (Account Transfer + QR), launched in 2016. Unified Payments Interface is a real-time interbank payment system built on top of IMPS infrastructure, enabling instant mobile payments via QR code, phone number, Aadhaar, or virtual payment address (VPA).
UPI processed 228.3 billion transactions worth $3.6tn in 2025, a year-on-year change of +32.6%.
UPI is operated by NPCI, with instant settlement.
UPI launched in 2016, and today has 300 participating institutions.
UPI supports QR code payments, digital wallets, proxy/alias lookup, request-to-pay.
Data source: NPCI.
| Capability | Status |
|---|---|
| QR Code Payments | ✓ |
| Wallet Support | ✓ |
| 24/7 Availability | ✓ |
| Cross-Border | ✓ |
| ISO 20022 | — |
| Request to Pay | ✓ |
| Open API | ✓ |
| Alias/Proxy | ✓ |