Unified Payments Interface

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Unified Payments Interface (UPI) is an Indian instant payment system and protocol developed by the National Payments Corporation of India (NPCI) in April 11th 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. It is used on mobile devices to instantly transfer funds between two bank accounts using only a unique UPI ID. It runs as an open source application programming interface (API) on top of the Immediate Payment Service (IMPS), and is regulated by the Reserve Bank of India (RBI). Major Indian banks started making their UPI-enabled apps available to customers in August 2016, and the system is today supported by almost all Indian banks. As of 2025, 50% of the world's digital transactions are conducted by India's UPI platform with over 250 billion annual transactions worth US$3.4 trillion. In 2021, UPI in India had over 500 million active users. In the month of August 2025, 20 billion UPI transactions worth ₹ 25 trillion (about US$293...

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