Page 20 - NIS English 16-30 September, 2026

Cover Story
UPI TURNS 10

UPI: More Than Just Payments—The
New Face of Innovation

The journey of UPI does not stop here. The government’s intent is clear: to scale new heights
of innovation over the next decade by onboarding new users and merchants. In the past
year alone, UPI has set numerous milestones. Monthly transactions crossed the 2,000-crore
mark for the first time in August 2025, and the figure rose even further by December 2025.
Throughout 2025, an average of 60 crore transactions were recorded daily.

A street vendor in Delhi, listening to the payment
confirmation chime on his soundbox, may not realize
that this simple convenience has become a global
From the local street benchmark—recognized even by institutions like the
vendor to the car IMF. Yet, it is this everyday reliance on fast, secure, and
showroom, all payments cashless transactions that has truly captured the world’s
can be made simply by attention. UPI is no longer merely a payment mechanism;
scanning a QR code. it is the face of Indian innovation, a symbol of inclusive
Often, your daughter growth, and a beacon of hope for nations aspiring to

might share a QR code transition from cash-based to digital economies. The
saying, “Mom, Dad, I’ve India that once endured hours of waiting
in queues now completes transactions
picked out this dress, with a single QR
and you can pay for code scan. This is the
her shopping from the payment revolution of
comfort of your home.” a New India—simple,
These developments are secure, and accessible

remarkable. Just think to all.
- were such things even
possible before 2014?
Narendra Modi, Prime Minister

Interface (UPI) has completely transformed
India’s financial landscape, steering the digital
economy in a new direction. According to Ministry
of Finance data, the volume of UPI transactions
has witnessed a historic surge, increasing nearly
13,000-fold. While only 1.78 crore transactions

18 NEW INDIA SAMACHAR || Sep 16-30, 2026