India is intensifying efforts to onboard 300 million new users to its Unified Payments Interface platform, aiming to solidify its position as a global leader in digital payments. This initiative is part of a broader strategy to enhance UPI’s domestic penetration and promote its adoption internationally.
The National Payments Corporation of India , which oversees UPI, has outlined plans to expand the platform’s reach to 20 countries by 2029. This expansion targets regions with significant Indian diaspora and frequent travel ties, including Southeast Asia, the Middle East, and parts of Africa. Countries like Qatar, Thailand, and other Southeast Asian nations are among those identified for UPI integration.
To facilitate this global outreach, NPCI’s international arm, NPCI International Payments Limited , is collaborating with various nations to develop UPI-like systems tailored to their specific needs. Agreements have been signed with countries such as Peru, Namibia, and Trinidad and Tobago to establish real-time payment infrastructures modeled after UPI. These collaborations aim to enhance financial inclusion and streamline cross-border transactions.
Domestically, UPI continues to dominate India’s digital payment landscape, accounting for approximately 83% of all digital transactions in 2024. The platform’s user-friendly interface and real-time transaction capabilities have contributed to its widespread adoption. The Reserve Bank of India is actively working with stakeholders to further broaden UPI’s scope, focusing on scaling infrastructure, introducing new products, and addressing ecosystem challenges.
Internationally, India is engaging with the Financial Action Task Force to ease compliance requirements for cross-border UPI transactions. The goal is to make UPI more competitive with established global payment networks by advocating for technology-neutral regulations that facilitate smoother international payments.
As part of its expansion strategy, NIPL is also assisting countries in developing their own domestic card schemes similar to India’s RuPay. Collaborations with nations like the United Arab Emirates and Mauritius are underway to create sovereign payment solutions that can eventually integrate with UPI for seamless cross-border transactions.
