India Tops Global Charts in Fast Payments

  • 12 Jul 2025

On 11th July 2025, the International Monetary Fund (IMF) recognised India as the global leader in fast payments, driven by the rapid and widespread adoption of the Unified Payments Interface (UPI) since its launch in 2016.

  • The International Monetary Fund (IMF) report titled “Growing Retail Digital Payments: The Value of Interoperability” highlighted that Unified Payments Interface (UPI) now processes over 18 billion transactions per month, reinforcing its role as the foundation of India’s digital retail payments system.
  • Unified Payments Interface (UPI), built on the Immediate Payment Service (IMPS) infrastructure, has revolutionized India’s digital payments ecosystem by facilitating instant, secure and seamless transactions across platforms.
  • The IMF attributed UPI’s success to interoperability, which gives users the flexibility to select from multiple apps and service providers while boosting competition and innovation in the fintech sector.