India Eyes Global Expansion and Domestic Growth for UPI Digital Payment System
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India Eyes Global Expansion and Domestic Growth for UPI Digital Payment System

India aims to significantly expand the global reach of its Unified Payments Interface (UPI), with a particular focus on East Asia, according to Financial Services Secretary M. Nagaraju. Currently accepted in eight countries, UPI's international presence is set to grow. Concurrently, RBI Deputy Governor T Rabi Sankar highlighted UPI's potential to reach 1 billion users domestically, more than doubling its current 400 million base, while acknowledging India's need to increase per-person digital transaction rates compared to advanced economies.

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