New Delhi’s digital payment revolution is making waves across the globe. The Unified Payments Interface (UPI), India’s flagship instant payment system, has now gone live in more than eight countries, including the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Qatar, and Mauritius. This expansion underscores India’s growing dominance in the world of digital transactions.
The government revealed this milestone in Parliament on Friday, highlighting how UPI’s international rollout is boosting remittances, enhancing financial inclusion, and solidifying India’s position in the global fintech landscape. Electronics and IT Minister of State Jitin Prasad shared these details in the Rajya Sabha, emphasizing the system’s transformative impact.
Beyond UPI, India has inked Memorandums of Understanding (MoUs) with 23 nations to share its India Stack and Digital Public Infrastructure (DPI). These agreements aim to promote the adoption of India’s digital governance platforms worldwide, focusing on areas like digital identity, payments, data exchange, and service delivery.
Specific pacts for DigiLocker have been signed with Cuba, Kenya, the UAE, and Laos. The India Stack Global portal showcases 18 key digital platforms, aiding friendly countries in their adoption. During India’s G20 presidency in 2023, the Global DPI Repository was launched as a knowledge hub, with India contributing the most solutions.
Key DPI offerings include Aadhaar for identity, UPI for payments, CoWIN for vaccinations, API Setu, DigiLocker, Aarogya Setu, GeM, UMANG, DIKSHA, e-Sanjeevani, and PM GatiShakti. Meanwhile, NPCI data shows UPI transactions surged 28% year-on-year in January to 21.70 billion, with value up 21% to ₹28.33 lakh crore. This global push positions India as a fintech leader, paving the way for seamless cross-border digital economies.