UPI Transactions Soar to Record ₹230 Trillion by December 2025
In a significant parliamentary announcement on Tuesday, 3 February 2026, Minister of State for Finance Pankaj Chaudhary revealed that Unified Payments Interface (UPI) transactions have achieved a monumental milestone. According to the minister's response to a query in parliament, as reported by the news agency PTI, the total transaction value through UPI until December 2025 has reached an unprecedented ₹230 trillion.
Rapid Growth in Domestic Digital Payments
This record-breaking figure represents a substantial increase compared to previous years, highlighting the accelerating adoption of digital payment systems across India. Chaudhary emphasized that the transaction value has been expanding at a remarkably fast pace. For context, the total transaction value stood at ₹139 trillion during the financial year 2022-23, indicating a robust growth trajectory over the intervening period.
"As far as domestic transactions are concerned, transactions worth a total value of ₹230 lakh crore have been made till December in the year 2025-26. This is against total transaction value of ₹139 lakh crore in the year 2022-23," the minister stated in the House, as cited by the agency report.
Global Expansion of UPI to Eight Countries
Beyond domestic achievements, the UPI system is making significant strides on the international stage. Finance Minister Nirmala Sitharaman, responding to a separate question in the Union Parliament, detailed the global footprint of UPI. She confirmed that UPI is now operational in eight countries after currency conversion and in compliance with their respective domestic laws.
The countries where UPI is currently being used include Bhutan, France, Mauritius, Nepal, Qatar, Singapore, Sri Lanka, and the United Arab Emirates (UAE). This expansion underscores India's efforts to promote its digital payment infrastructure globally.
Strategic Steps for International Growth
Sitharaman elaborated on the collaborative efforts undertaken by the government, the Reserve Bank of India (RBI), and NPCI International Payments Ltd (NIPL) to facilitate the international expansion of UPI. These initiatives are designed to enhance cross-border payment capabilities and integrate UPI with fast payment systems in partner countries.
"The government, Reserve Bank of India (RBI) and NPCI International Payments Ltd (NIPL) have been taking up various steps for international expansion of Unified Payment Interface (UPI)," Sitharaman said, according to the agency report.
Key measures include the operationalisation of UPI linkages with comparable fast payment systems to support cross-border person-to-person (P2P) remittance flows. Additionally, the establishment of travel-based corridors aims to enable seamless cross-border person-to-merchant (P2M) payments, further broadening UPI's utility in international commerce.
Global Recognition and Market Dominance
The finance minister also highlighted international recognition of UPI's success. She referenced an International Monetary Fund (IMF) report titled 'Growing Retail Digital Payments (The Value of Interoperability)' from June 2025, which has officially recognized UPI as the world's largest retail fast-payment system by transaction volume.
Further bolstering this status, Sitharaman cited an ACI Worldwide report from 2024, which indicates that UPI accounts for approximately 49 per cent of the transaction volume in global real-time retail payments. This statistic underscores UPI's dominant position in the global digital payments landscape, reflecting its widespread adoption and efficiency.
The parliamentary disclosures by both ministers not only celebrate UPI's domestic achievements but also signal India's growing influence in shaping global digital payment ecosystems. As UPI continues to expand both at home and abroad, it reinforces India's commitment to financial inclusion and technological innovation on a worldwide scale.
