Initiative Tracker
UPI is the most successful instant payment system ever built. Processing over 16 billion transactions monthly across 650+ banks, it has fundamentally transformed how India pays. Now NPCI is exporting the model internationally - bilateral linkages with Singapore, UAE, and France are live, with more countries in discussion.
UPI (Unified Payments Interface)
EXPANDINGNational Payments Corporation of India (NPCI) · Launched Apr 11, 2016 · Rails: upi
24.07B (September 2026)
Monthly transactions
↑ Growing
UPI processed 241.62 billion transactions (24,162 crore) worth Rs 314 lakh crore in FY26. September 2026 recorded 24.07 billion transactions worth Rs 29.37 lakh crore, up 23% year on year by volume and 18% by value, easing from the all-time monthly record of 24.51 billion transactions worth Rs 29.82 lakh crore set in August 2026. Average daily transactions crossed 800 million for the first time in September 2026. 554.9 million users were onboarded as of June 2026.
System Status
No UPI-specific upcoming maintenance recorded.
Rollout Tracker
| Country | P2P / P2M | UPI Lite | UPI 123PAY | UPI Credit Line | UPI Autopay | UPI Autopay Mandate Portability | UPI Circle | Unified Soundbox (Interoperable) | UPI Meta / UPI Checkout | UPI Tap & Pay | MyUPI | UPI-PayNow P2P | Merchant Payments | UPI-Aani Cross-Border Instant Payments | P2P Cross-Border Remittance | Merchant Payments (UPI in Malaysia) | Merchant Payments (DuitNow in India) | Cross-Border Payments | Cross-Border Payments (UPI-KFTC Integration) | Cross-Border Remittances (UPI-Eurobank) | Cross-Border Remittances | Merchant Payments (QR) | Digital Payment Infrastructure | Cross-Border Remittances (Favara-UPI) | Cross-Border QR Payment Interoperability (UPI-QRIS) | Merchant Payments (UPI-KHQR Corridor) | Cross-Border QR Payment Interoperability (UPI-NAPAS) | Merchant Payments (UPI-UZQR) | Updated |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BhutanBT | — | — | — | — | — | — | — | — | — | — | — | — | Live Jul 2023 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Jul 2025 |
| CambodiaKH | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Live Jun 2026 | — | — | Jul 2026 |
| CyprusCY | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Planned | — | — | — | — | — | — | — | — | — | — | Jul 2026 |
| FranceFR | — | — | — | — | — | — | — | — | — | — | — | — | Live Jun 2023 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Jul 2026 |
| GreeceGR | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Live May 2026 | Live May 2026 | Live Jun 2026 | — | — | — | — | — | — | Jul 2026 |
| India (domestic)IN | Live Apr 2016 | Live Sep 2022 | Live Mar 2022 | Live Sep 2023 | Live Jan 2020 | Live Dec 2025 | Live | Planned | Planned | Live | Live Sep 2026 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Sep 2026 |
| IndonesiaID | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Planned Dec 2026 | — | — | — | Jul 2026 |
| IsraelIL | — | — | — | — | — | — | — | — | — | — | — | — | Planned | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Mar 2026 |
| JapanJP | — | — | — | — | — | — | — | — | — | — | — | — | Live Apr 2026 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Jul 2026 |
| MalaysiaMY | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Planned | Planned | — | — | — | — | — | — | — | — | — | — | — | Mar 2026 |
| MaldivesMV | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Planned | Live Jul 2026 | — | — | — | — | Aug 2026 |
| MauritiusMU | — | — | — | — | — | — | — | — | — | — | — | — | Live Mar 2024 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Jul 2025 |
| NepalNP | — | — | — | — | — | — | — | — | — | — | — | — | Live Jan 2024 | — | Live Jun 2026 | — | — | — | — | — | — | — | — | — | — | — | — | — | Jul 2026 |
| QatarQA | — | — | — | — | — | — | — | — | — | — | — | — | Live Sep 2025 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Mar 2026 |
| SeychellesSC | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Planned Dec 2026 | — | — | — | — | — | Jun 2026 |
| SingaporeSG | — | — | — | — | — | — | — | — | — | — | — | Live Feb 2023 | Live Feb 2023 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Jul 2025 |
| South KoreaKR | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Planned | — | — | — | — | — | — | — | — | — | Apr 2026 |
| Sri LankaLK | — | — | — | — | — | — | — | — | — | — | — | — | Live Feb 2024 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Jul 2026 |
| UAEAE | — | — | — | — | — | — | — | — | — | — | — | — | Live Aug 2023 | Planned | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Jul 2026 |
| UzbekistanUZ | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Planned | Sep 2026 |
| VietnamVN | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | Planned | — | May 2026 |
Timeline
Oct 13, 2026
NPCI defers 0.4 percent UPI merchant discount rate to immediately post Diwali, date to be notified separately
ThePrint (PTI)Oct 9, 2026
Trade Bodies Ask NPCI to Defer the 0.4 Percent UPI Merchant Fee Past 15 October
ClearingPostOct 2, 2026
AICPDF and AIMRA Call Off 2 October 'No UPI Day' Protest After Meeting Finance Minister
ClearingPostOct 1, 2026
UPI Processed 24.07 Billion Transactions in September, Two Weeks Before Merchant Fee Starts
ClearingPostStored date 2026-09-30; precision not reviewed
UPI participant count changed from 731 banks (June 2026) to 756 banks (September 2026). Recorded by ClearingPost on 2026-10-08.
Sep 12, 2026
NPCI Launches MyUPI to Give Users a Single View of UPI Transactions and AutoPay Mandates
ClearingPostSep 10, 2026
RBI Governor Sanjay Malhotra unveils NPCI's UPI Tap & Pay for NFC-enabled POS terminals at Global Fintech Fest 2026; payments up to Rs 5,000 are PIN-less, larger amounts need a UPI PIN entered on the terminal, and transactions can run on the POS terminal's internet connection. NPCI's MyUPI support platform, built on its FiMI small language model, launched alongside.
Deccan Chronicle / IndianWeb2 / Asian MirrorSep 4, 2026
NPCI deadline for all banks and UPI apps to implement mobile number masking (only last four digits visible to counterparties) and default username-based VPAs for new users. Circular aligned with Digital Personal Data Protection Act.
Business StandardStored date 2026-08-31; precision not reviewed
UPI average daily transactions changed from ~763M/day (July 2026) to ~791M/day (August 2026). Recorded by ClearingPost on 2026-09-13.
Stored date 2026-08-31; precision not reviewed
UPI average daily value changed from ~₹96,383 crore/day (~$11.5B) (July 2026) to ~₹96,205 crore/day (~$11.5B) (August 2026). Recorded by ClearingPost on 2026-09-13.
Stored date 2026-08-31; precision not reviewed
UPI headline volume changed from 23.20B monthly TX (May 2026 record), 241.6B total (FY2025-26) to 24.51B monthly TX (August 2026), 241.6B total (FY2025-26). Recorded by ClearingPost on 2026-09-17.
Aug 30, 2026
NPCI International Payments Limited signs commercial agreement with Uzbekistan's National Interbank Processing Centre (HUMO operator) to enable UPI person-to-merchant payments via the UZQR national QR code; RBI and Central Bank of Uzbekistan approvals obtained before signing; go-live date not announced.
Business Today / IANSAug 30, 2026
NPCI International Signs UPI Acceptance Agreement With Uzbekistan's HUMO Operator
ClearingPostAug 25, 2026
UPI completes 10 years since public launch on August 25, 2016. IMF recognizes as world's largest real-time payment system with 49% of global instant payment volume in 2025. Platform has 731 banks, 554.9 million users, and merchant acceptance in 11 countries.
PIB / Business StandardAug 17, 2026
India's UPI MDR Enabling Amendment Becomes Law After Presidential Assent on August 17
ClearingPostAug 10, 2026
Parliament clears Taxation and Other Laws (Amendment) Bill, 2026. Rajya Sabha returns Money Bill on Aug 10 after Lok Sabha passage on Aug 6. Amends Section 10A of Payment and Settlement Systems Act 2007, replacing blanket MDR prohibition with government notification mechanism. FM Sitharaman assures consumers and small merchants exempt.
ANI / India.comAug 10, 2026
NPCI CEO Dilip Asbe announces strategy to expand UPI to 15-20 international markets over the next decade, targeting India's 35-million diaspora ($155B annual remittances). Malaysia and Bahrain in active discussions. NPCI also exploring agentic AI payment integrations with OpenAI ChatGPT and Alphabet Gemini.
Business StandardAug 10, 2026
Rajya Sabha passes Taxation and Other Laws (Amendment) Bill 2026, completing parliamentary approval of UPI MDR enabling legislation
Akashvani NewsAug 10, 2026
Rajya Sabha passes the Taxation and Other Laws (Amendment) Bill, 2026, completing parliamentary approval of the amendment to Section 10A of the Payment and Settlement Systems Act, 2007 that lets the central government specify by notification which electronic payment modes remain protected from charges, enabling a future UPI merchant discount rate. Lok Sabha passed the bill on August 6, 2026.
PRS Legislative Research / LiveLawAug 9, 2026
Government clarifies UPI fee framework: consumers and most merchants exempt from any future MDR, NPCI steering committee to decide
Outlook Business / Government of IndiaAug 8, 2026
Finance Ministry and PCI clarify post-amendment MDR framework. MDR if introduced will be threshold-based, not blanket. UPI and Services Steering Committee (NPCI-led) to determine implementation. PCI cites Rs 10,000 crore annual UPI infrastructure cost vs Rs 1,500 crore government subsidy. P2P and consumer transactions confirmed free.
The Week / PCI / Finance MinistryAug 6, 2026
Lok Sabha passes Taxation and Other Laws (Amendment) Bill enabling government to selectively lift zero-MDR on electronic payments including UPI
Business Standard / SiasatAug 6, 2026
FM Sitharaman clarifies MDR on UPI applies to merchants only, not customers; Taxation and Other Laws (Amendment) Bill 2026 provides legal framework for future MDR policy modifications by central government notification
ETV BharatJul 31, 2026
NPCI UPI API Operational Guidelines (OC-215A) Compliance Deadline
NPCI / Business StandardStored date 2026-07-31; precision not reviewed
UPI average daily transactions changed from ~757M/day (June 2026) to ~763M/day (July 2026). Recorded by ClearingPost on 2026-08-03.
Stored date 2026-07-31; precision not reviewed
UPI average daily value changed from ~₹96,405 crore/day (~$11.5B) (June 2026) to ~₹96,383 crore/day (~$11.5B) (July 2026). Recorded by ClearingPost on 2026-08-03.
Jul 30, 2026
Favara-UPI cross-border remittance corridor goes live between Maldives and India, with Bank of Maldives and Maldives Islamic Bank as participating institutions
PIBJul 22, 2026
NPCI Develops Offline NFC Tap-to-Pay for UPI Transactions Up to 2,000 Rupees
ClearingPostJul 2, 2026
SWIFT Payments Scheme Goes Live with 25 Banks Across 11 Cross-Border Corridors
ClearingPostJul 1, 2026
NPCI Partners HSBC India and JPMorgan for Real-Time FX on Cross-Border UPI
JPMorgan PaymentsJul 1, 2026
NPCI Signs Real-Time FX Settlement Partnerships with HSBC India and JPMorgan Payments for International UPI
Business StandardJun 30, 2026
UPI Goes Live for Merchant Payments in Greece as Network Reaches Ten Countries
ClearingPostStored date 2026-06-30; precision not reviewed
UPI participant count changed from 703 banks (FY 2025-26) to 731 banks (June 2026). Recorded by ClearingPost on 2026-07-28.
Jun 29, 2026
NPCI International Signs MoU with Central Bank of Seychelles to Deploy UPI by Year-End
ClearingPostJun 17, 2026
NPCI Open-Sources Drunix Distributed Ledger Platform for Enterprise Payment Infrastructure
ClearingPostJun 15, 2026
RBI Consolidates Payment System Authorisation Rules Under New Master Directions
ClearingPostJun 8, 2026
Bank of America to Connect Corporate Clients to SPEI, Faster Payments, and UPI for Cross-Border Inst
ClearingPostMay 26, 2026
Eurobank Becomes First European Bank to Enable UPI Cross-Border Remittances from Greece
ClearingPostMay 23, 2026
Paytm Deploys NPCI's UPI Circle for Teen Payments, Capping Transactions at Rs 5,000
ClearingPostMay 15, 2026
NPCI Accelerates UPI Checkout Development as Tokenized Cards Close Online Speed Gap
ClearingPostMay 12, 2026
I4C and RBI Innovation Hub Sign MoU to Scale MuleHunter.AI Across Indian Banking System
ClearingPostMay 11, 2026
NPCI Explores Agentic AI to Cut UPI Bank Compliance Cycles from Weeks to Days
ClearingPostApr 24, 2026
RBI Cancels Paytm Payments Bank License After Two Years of Regulatory Restrictions
ClearingPostApr 22, 2026
RBI Mandates UPI Interoperability for Prepaid Wallets as Public Consultation Closes May 22
ClearingPostApr 22, 2026
RBI Issues E-Mandate Framework 2026, Raising Insurance and Mutual Fund Auto-Debit Limit to Rs 1 Lakh
ClearingPostApr 22, 2026
RBI Issues Draft Master Direction on Prepaid Payment Instruments 2026, Mandating UPI Interoperability for Full-KYC PPIs
RBI / Business StandardApr 21, 2026
NPCI International and KFTC Sign MoU for UPI-Korean Payment System Integration
ClearingPostApr 17, 2026
RBI Proposes One-Hour Delay on UPI and IMPS Transfers Above ₹10,000 to Combat Fraud
ClearingPostApr 11, 2026
UPI Marks Tenth Anniversary After Processing 219 Billion Transactions in FY26
ClearingPostApr 10, 2026
India Bans Cash at 1,150 Highway Toll Plazas, Mandates FASTag and UPI from April 10
ClearingPostApr 7, 2026
India's Active UPI QR Codes Cross 731 Million as Average Transaction Size Falls 8.6 Percent
ClearingPostApr 2, 2026
India's Two-Factor Authentication Mandate Takes Effect as UPI Outages Hit Major Banks
ClearingPostApr 1, 2026
RBI Two-Factor Authentication Mandate Takes Effect April 1, Reshaping Digital Payment Security Acros
ClearingPostApr 1, 2026
SBI Year-End Maintenance Triggers Widespread UPI Outage on First Day of New Financial Year
ClearingPostApr 1, 2026
EPFO 3.0 Goes Live with UPI-Based Instant PF Withdrawals for 80 Million Subscribers
ClearingPostMar 27, 2026
UPI Suffers Fourth March Outage as NPCI Switch Failure Disrupts Transactions at Major Banks
ClearingPostMar 27, 2026
UPI Suffers Fourth March Outage as NPCI Switch Failure Disrupts Transactions at Major Banks
ClearingPostMar 26, 2026
RBI Two-Factor Authentication Mandate Takes Effect April 1, Reshaping Digital Payment Security Acros
ClearingPostMar 24, 2026
NPCI Launches Biometric Authentication for UPI, Replacing PIN Entry for Payments Under Rs 5,000
ClearingPostMar 24, 2026
BHIM App Launches Biometric Authentication for UPI Payments Up to Rs 5,000
/insights/bhim-app-launches-biometric-authentication-for-upi-payments-up-to-rs-5-000Mar 23, 2026
RBI Mandates Flexible Two-Factor Authentication for All Digital Payments from April 1
/insights/rbi-2fa-mandate-digital-payments-april-2026Mar 21, 2026
NPCI Completes UPI Collect Phase-Out After 70% of Fraud Cases Traced to Pull Payments
/insights/npci-completes-upi-collect-phase-out-after-70-of-fraud-cases-traced-to-pull-paymMar 21, 2026
NPCI International Expands UPI Acceptance Across Sri Lanka Through LankaQR Integration
/insights/upi-sri-lanka-lankaqr-expansion-march-2026Mar 20, 2026
RBI Proposes Digital Fraud Compensation Framework with Rs 25,000 Cap
/insights/rbi-proposes-digital-fraud-compensation-framework-with-rs-25-000-capMar 20, 2026
RBI Constitutes Payments Regulatory Board Under New PRB Regulations
/insights/rbi-constitutes-payments-regulatory-board-under-new-prb-regulationsMar 20, 2026
NPCI Cuts RuPay Credit Card UPI Fees as First Credit Line Deployment Goes Live
/insights/npci-cuts-rupay-credit-card-upi-fees-first-credit-line-deploymentMar 19, 2026
UPI Prepares for Japan Launch as NPCI Targets First East Asian Market
/insights/upi-prepares-for-japan-launch-as-npci-targets-first-east-asian-marketMar 19, 2026
RBI's Risk-Based Authentication Framework for Digital Payments Takes Effect April 2026
/insights/rbi-s-risk-based-authentication-framework-for-digital-payments-takes-effect-apriMar 19, 2026
NPCI International and PayNet Sign Agreement for UPI-DuitNow Cross-Border Payments
/insights/npci-international-and-paynet-sign-agreement-for-upi-duitnow-cross-border-paymenStored date 2026-03-16; precision not reviewed
Added UPI One World wallet details (40+ countries, CheqUPI app, tourist feature planned for 2026-27 winter), revised P2M limits (₹5L/TX, ₹10L/day for key sectors), Apr 1 2026 inactive number unlinking mandate, NPCI International targeting 4-6 more countries…
Mar 10, 2026
UAE's Aani Selects IRP Gateway for Cross-Border Instant Payments, Starting with India UPI
/insights/uae-aani-cross-border-irp-gateway-upiFeb 16, 2026
NPCI Launches UPI One World Wallet for International Delegates at India AI Impact Summit 2026, Enabling Foreigners from 40+ Countries to Make UPI Payments Without Indian Bank Account
NPCIFeb 15, 2026
India and Israel agree to enable UPI payments in Israel via MASAV during PM Modi State visit
Government of IndiaFeb 13, 2026
NPCI International signs agreement with PayNet Malaysia for UPI-DuitNow QR cross-border merchant payments
NPCI International / PayNetFeb 5, 2026
Al Etihad Payments (Aani) selects Montran to build IRP Gateway for cross-border instant payments with UPI as initial integration
Al Etihad Payments / MontranJan 31, 2026
UPI Crosses 228 Billion Annual Transactions - Nearly Half of Global Real-Time Payments
/insights/upi-228-billion-transactions-2025Dec 31, 2025
UPI completes CY2025 with 228.3 billion transactions worth ~INR 300 lakh crore; IMF recognizes UPI as world's largest real-time payment system accounting for 49% of global real-time transactions
NPCI / PIB (Government of India)Dec 8, 2025
US Court Invalidates Federal Debit Interchange Cap, Industry Demands Fed Withdraw Proposed Reduction
/insights/us-reg-ii-debit-interchange-invalidated-2025Nov 14, 2025
Serbia's IPS Hits 106 Million Annual Transactions, Joins SEPA as 41st Country
/insights/serbia-nbs-ips-records-sepa-entry-2025Sep 22, 2025
UPI merchant acceptance goes live in Qatar via QNB partnership, Qatar Duty Free becomes first merchant
QNB GroupJun 16, 2025
NPCI International and Eurobank Cyprus sign MoU for UPI cross-border payments during PM Modi's visit to Cyprus
Government of India / NPCI InternationalOct 1, 2019
UPI Crosses 1 Billion Monthly Transactions
/insights/upi-one-billion-monthly-transactions-2019Related Systems
Competitive Landscape
IMPScomplementary
Instant payment rail
NPCI's earlier instant payment system. UPI was built as an overlay on IMPS infrastructure.
Visa / Mastercard / RuPaycompetitor
Card networks
UPI has significantly displaced card payments in India for both online and in-store.
PhonePe / Google Pay / Paytmcomplementary
UPI app providers
Third-party apps are the primary UPI interface. In May 2026, PhonePe processed 10.735 billion transactions (46.5% market share by volume) worth Rs 14.67 lakh crore. Google Pay processed 7.598 billion transactions (32.9%) worth Rs 10.03 lakh crore. Paytm third at 7.9% with 1.84 billion transactions worth Rs 1.99 lakh crore. Smaller players (WhatsApp, MobiKwik, Kiwi) collectively reached 4.3% market share in May 2026, up from 2.4% in April. Top three combined share declined marginally as smaller apps gained ground. NPCI's 30% volume cap per third-party app, introduced in 2021, remains extended to December 31, 2026. Amazon, Meta, CRED, MobiKwik, and Super.money met NPCI on April 30, 2026 to push for cap enforcement.
NEFT / RTGScomplementary
Bank transfer systems
NEFT (batch) and RTGS (large-value) serve different segments. UPI dominates retail payments.
Articles (84)
NewsOct 16, 2026
BHIM App Adds Tatkal NPS for Opening Pension Accounts
Customers of six banks, including State Bank of India and HDFC Bank, can open a pension account with a minimum first contribution of Rs 250, and eligibility runs from 18 to 85 years. NPCI BHIM Services Limited expects more banks to follow.
RegulationOct 9, 2026
Trade Bodies Ask NPCI to Defer the 0.4 Percent UPI Merchant Fee Past 15 October
Moneycontrol, citing unnamed sources, puts the industry's proposed start date for UPI merchant charges at January 2027. NPCI had reached no decision by 8 October, and under the published framework the 0.4 percent fee on merchant UPI payments above 2,000 rupees was deferred on 13 October 2026 to immediately post Diwali, on a date NPCI will notify separately.
NewsOct 8, 2026
RBI Governor Says a Small Fee Will Not Have a Major Impact on UPI Volumes
A week before the 0.4 per cent merchant discount rate was due to take effect on UPI payments above Rs 2,000, since deferred by NPCI to immediately post Diwali, the Reserve Bank of India says it has seen no decline in volumes. UPI averaged 802 million transactions a day in September 2026, the baseline against which the charge's effect will be measured.
RegulationOct 7, 2026
UPI's Merchant Fee Will Fund Acceptance Rollout in Tier 3 to Tier 6 Centres
Revenue from UPI's merchant discount rate is set to go into a proposed small-merchant fund that would finance merchant onboarding by acquiring banks and payment aggregators and pay incentives on UPI transactions from small merchants, particularly in rural areas and tier III centres and beyond. The 0.4 percent charge on person-to-merchant payments above Rs 2,000 starts on 15 October 2026, while the fund's operating framework is still to be settled with the Reserve Bank of India.
NewsOct 6, 2026
AICPDF and AIMRA Call Off 2 October 'No UPI Day' Protest After Meeting Finance Minister
A delegation of around 20 trade leaders led by Confederation of All India Traders secretary general Praveen Khandelwal met Union Finance Minister Nirmala Sitharaman in New Delhi on 30 September. The two associations have sought a deferment of the levy, a higher transaction threshold and the exclusion of merchant-to-merchant payments.
NewsOct 1, 2026
UPI Processed 24.07 Billion Transactions in September, Two Weeks Before Merchant Fee Starts
NPCI's September data release lands two weeks before a 0.4 percent merchant discount rate starts applying to person-to-merchant UPI payments above Rs 2,000 on 15 October 2026.
RegulationSep 30, 2026
Supreme Court Declines to Stay UPI Merchant Fee Before 15 October Start
Counter-affidavits are due within four weeks, after the 0.4 percent charge takes effect. The petition argues that a compulsory charge cannot rest on a press release and FAQs.
RegulationSep 16, 2026
NPCI Sets 0.4 Percent UPI Merchant Fee Above Rs 2,000 From October 15
India's zero-MDR era for UPI merchant acceptance ends on October 15, 2026. The charge applies only to person-to-merchant payments above Rs 2,000. Merchants cannot pass the charge to customers. UPI apps are barred from levying a platform fee.
NewsSep 12, 2026
NPCI Launches MyUPI to Give Users a Single View of UPI Transactions and AutoPay Mandates
RBI Governor Sanjay Malhotra announced the platform at Global Fintech Fest 2026 in Mumbai on September 10, 2026.
NewsSep 11, 2026
RBI Governor Launches UPI Tap & Pay for NFC Point-of-Sale Terminals
Tap & Pay transactions can run over the POS terminal's internet connection instead of the user's mobile data.
NewsSep 10, 2026
India Extends Credit Line on UPI to Kisan Credit Card and MUDRA Borrowers
Priority-sector borrowers in India can now spend from sanctioned Kisan Credit Card and MUDRA limits at merchants over UPI rails rather than drawing cash or seeking a fresh disbursal.
RegulationSep 8, 2026
UPI Apps Must Mask Customer Mobile Numbers Under NPCI September 4 Deadline
Indian payment applications reached a September 4, 2026 compliance date for hiding customer mobile numbers inside UPI payment screens. NPCI also directed applications to offer identifiers that are not derived from a phone number when users create new UPI IDs.
RegulationSep 3, 2026
India's UPI MDR Enabling Amendment Becomes Law After Presidential Assent on August 17
The Taxation and Other Laws (Amendment) Act, 2026 replaces the statutory zero-charge guarantee for prescribed electronic payment modes with a notification power held by the central government. Finance Minister Nirmala Sitharaman told Parliament the change is only an enabling provision that imposes no tax or transaction charge on UPI users.
NewsSep 2, 2026
UPI Processes Record 24.51 Billion Transactions in August 2026
August's UPI volume was worth ₹29.82 lakh crore, 20 per cent more than in the same month of 2025.
NewsSep 2, 2026
NPCI International Signs UPI Acceptance Agreement With Uzbekistan's HUMO Operator
Indian visitors will be able to scan Uzbekistan's unified national QR code from their existing UPI apps once the rollout begins, after regulators in both countries cleared the arrangement.
NewsAug 25, 2026
UPI Turns Ten with 49% of Global Real-Time Payment Volume
India's leading digital payment platform reached its tenth year this week. The system now handles nearly half of all instant transactions processed globally.
NewsAug 18, 2026
NPCI Targets 15-20 Markets for UPI Expansion via Indian Diaspora Strategy
India's national payments operator laid out a decade-long roadmap to expand UPI merchant acceptance from nine to as many as 20 international markets. The expansion anchors on the spending and remittance patterns of 35 million overseas Indians who collectively send $155 billion home annually.
RegulationAug 7, 2026
India's Lok Sabha Passes Bill Enabling Merchant Fees on UPI Transactions
Parliament's lower house approved enabling legislation that could end India's six-year ban on charging merchants for UPI acceptance, though the Reserve Bank of India considers MDR discussions premature.
NewsAug 4, 2026
UPI Sets New Monthly Record at 23.66 Billion Transactions in July
The Unified Payments Interface set a new all-time monthly high in July 2026, processing 23.66 billion payments valued at Rs 29.88 lakh crore. The milestone surpassed May's previous record of 23.20 billion and reflected 22 percent year-on-year growth. Industry observers noted the gains came without seasonal support, pointing to organic adoption in smaller cities.
NewsJul 30, 2026
NPCI Orders UPI Apps to Mask User Phone Numbers by September 4
India's National Payments Corporation has directed payment apps to hide mobile numbers, UPI IDs, and account numbers on transaction screens, setting September 4, 2026, as the compliance deadline for all participating banks and applications.
Reference Documents
Operational Track Record
No incidents recorded to date.
Tracker last updated: Oct 15, 2026