# Growth and global expansion of India's UPI ecosystem > Live situation record from CLSTR: https://clstr.news/situations/women-led-expansion-in-indian-fintech > Updated: 2026-09-08T13:58:27.000Z. Sources: 52. Developments: 5. Following its 10th anniversary in August 2026, the Unified Payments Interface (UPI) continues to drive India’s digital economy. At the Global Fintech Fest 2026 in Mumbai, Reserve Bank of India (RBI) Governor Sanjay Malhotra noted that fintech has moved banking “from the branch to the hand of every citizen,” enhancing financial inclusion and improving efficiency for micro, small, and medium enterprises (MSMEs) through cash-flow-based lending. He further noted that technology and AI are improving fraud detection and credit delivery. Prime Minister Narendra Modi expressed ambitions to further expand UPI’s international presence. While the system is currently operational in 11 countries—including Singapore, the UAE, France, and Nepal—the National Payments Corporation of India (NPCI) aims to connect with 15 to 20 additional markets over the next decade to streamline international remittances. The India-Singapore linkage has been cited as a successful model for this expansion. NPCI officials have identified rural expansion and offline payment solutions as the next major growth frontiers. During the same festival, Governor Malhotra highlighted a pivot toward emerging technologies, including quantum computing and tokenisation. He launched ‘UPI Tap & Pay’ for NFC-enabled smartphone payments and introduced ‘MyUPI’, an AI-powered platform for unified transaction views. To support this evolution, the RBI and SEBI announced plans for a framework to oversee tokenised corporate bonds. Industry leaders, including Nandan Nilekani, noted that tokenised assets and AI agents are expected to help unlock credit for a broader population. This technological shift occurs alongside reported economic resilience, including a 7.8 percent GDP growth rate in the April-June quarter and a recent sovereign rating upgrade to the ‘A’ category by a Japanese agency. ## Claims - UPI processed 23.66 billion transactions in July 2026. (disputed by 9 sources) - UPI transaction value in July 2026 was ₹29.88 lakh crore. (disputed by 9 sources) - Average daily UPI transactions in July 2026 were about 763 million. (disputed by 9 sources) - Annual UPI transaction volume grew from 1.78 crore in FY 2016-17 to over 24,162 crore in FY 2025-26. (corroborated by 18 sources) - UPI was launched on August 25, 2016, by the National Payments Corporation of India (NPCI). (corroborated by 17 sources) - Annual UPI transaction value rose from Rs 0.07 lakh crore in FY 2016-17 to approximately Rs 314 lakh crore in FY 2025-26. (corroborated by 15 sources) - The Unified Payments Interface (UPI) has completed 10 years since its launch. (corroborated by 14 sources) - UPI accounted for nearly 49 percent of global real-time payment transaction volume in 2024/2025. (corroborated by 10 sources) - UPI transaction volume grew 22 % year‑on‑year in July 2026. (corroborated by 9 sources) ## Timeline ### 2026-09-08: India fintech sector expands global footprint via UPI and AI At the Global Fintech Fest 2026, leaders highlighted India's fintech surge, driven by UPI's global expansion and a 7.8% GDP growth rate, signaling increased digital inclusion and economic resilience. 21 sources. https://clstr.news/cluster/pm-modi-pushes-for-global-expansion-of-indias-upi-payment-system ### 2026-09-06: India's UPI marks a decade of digital payment dominance India’s UPI has completed a decade, processing 24,161.69 crore transactions in 2025-26. The system now focuses on deepening financial inclusion, consumer protection, and expanding credit services. 2 sources. https://clstr.news/cluster/indias-upi-marks-a-decade-of-digital-payment-dominance ### 2026-08-24: UPI completes 10 years of driving India's digital payment revolution India's Unified Payments Interface (UPI) marks 10 years, having grown from 1.78 crore annual transactions to over 24,162 crore in FY 2025-26, becoming a global leader in real-time payments. 27 sources. https://clstr.news/cluster/india-metals-and-mining-sector-outlook-improves-says-systematix ### 2026-07-30: India's UPI hits record 23.66 bn July transactions UPI processed 23.66 bn July 2026 transactions, worth ₹29.88 lakh crore – a 22 % volume and 19 % value rise – with daily averages of 763 m transactions and ₹96,383 cr value; live in 8+ countries. 12 sources. https://clstr.news/cluster/indias-fintech-expansion-highlights-women-leaders-and-scalable-tech ### 2026-07-03: India's Women Leaders Transform Business Landscape Indian women executives are driving growth across sectors, creating jobs and fostering inclusive, innovative workplaces despite ongoing challenges. 2 sources. https://clstr.news/cluster/indias-women-leaders-transform-business-landscape --- Cite as: Growth and global expansion of India's UPI ecosystem. CLSTR, https://clstr.news/situations/women-led-expansion-in-indian-fintech