India accounted 48.5% share in global real-time payments by volume with UPI: RBI

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According to the Reserve Bank of India (RBI), India contributed 48.5% of the global real-time payment transactions in 2023, largely driven by the widespread use of the Unified Payments Interface (UPI). This highlights India’s leadership in the digital payment ecosystem.

The RBI credited UPI’s ease of use, interoperability, and increasing adoption across urban and rural areas for the surge in transaction volumes. India processed over 100 billion real-time transactions last year, setting a global benchmark.

UPI continues to expand internationally, with countries like Singapore, UAE, and France beginning to integrate with the system. The RBI emphasized that India’s digital payment infrastructure is a model for other developing economies aiming for financial inclusion and transparency.

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