Unified Payment Interface (UPI) Decadal Growth and Development-An Analysis

Abstract

Abstract: Unified Payment Interface is the dream baby of the National Payment Corporation of India. To bring the major reforms and revolution in the financial sector, digital payment make reachable and affordable to all common people National Payment Corporation of India has created Unified Payment Interface (UPI)on 25th August 2016. This payment interface has been successfully completed ten years on 25th August 2026. UPI decadal growth shows that tremendous changes in the digital payment sector. At the time of launching, initially FY 20216-17 only 0.07 UPI transactions has been recorded, whereas UPI transactions reached around ₹314 lakh crore in FY 2025-26. Almost 4000-fold increased noticed in UPI transactions. This clearly indicates, rapid growth of digital payments. By impressing by this growth level, the present study going to focus on growth and development of over a period of ten years from the date of its inceptions Key words: Unified Payment Interface, National Payment Corporation of India, Financial Sector, Digital Payment, Tremendous, Transactions, Growth and Development.