India Aims to Expand UPI's Global Footprint and User Base

India is actively working to expand the global reach of its Unified Payments Interface (UPI), with a particular focus on East Asia. Financial Services Secretary M. Nagaraju announced plans to increase international acceptance, noting UPI's current presence in eight countries. Concurrently, RBI Deputy Governor T. Rabi Sankar highlighted UPI's potential to more than double its user base to 1 billion, emphasizing its role in financial inclusion and economic growth, despite India's per-person digital transaction volume needing to catch up with advanced economies.