Mumbai, Sep 9: Prime Minister Narendra Modi has described the Unified Payments Interface (UPI) as a major success of India’s fintech journey, highlighting its growing use in the country and its expanding presence overseas.
Speaking at the Global Fintech Fest 2026 in Mumbai, PM Modi said UPI has changed the way people make payments and has helped bring digital financial services to millions of people who were earlier outside the traditional banking system.
More than 24 billion UPI transactions were recorded in August alone, showing the growing role of digital payments in everyday transactions across India.
The Prime Minister said UPI is now available in 11 countries, creating new opportunities for easier international payments. He also called for stronger links between UPI and the payment systems of countries where large Indian communities live or where India has significant trade.
Greater integration of digital payment systems could make cross-border transactions faster and cheaper, particularly for Indians sending money to their families in India.
The growing international use of UPI is also expected to benefit Indian businesses by making digital payments more convenient for travellers, customers and companies involved in cross-border trade.
PM Modi’s remarks highlight how India’s digital payment ecosystem is moving beyond domestic transactions and becoming an important part of the country’s global fintech ambitions.
