India Dominates Global Digital Payments with 50% Market Share, PM Modi Highlights UPI Success at NDTV Summit

PM Modi at the NDTV World Summit 2025.

New Delhi:

India currently represents approximately 50 percent of global digital monetary transactions - including those via UPI (unified payments interface) applications - firmly establishing its dominance in this domain, Prime Minister Narendra Modi declared Friday evening at the NDTV World Summit 2025.

These favorable observations regarding digital transactions align with a July International Monetary Fund report that recognized India as the 'global leader in fast payments,' an achievement analysts attribute to the swift implementation and widespread adoption of UPI during the pandemic period.

It is important to note the distinction between digital payments and UPI specifically. While all UPI payments qualify as digital transactions, not all digital transactions occur through UPI platforms.

Digital transactions encompass all internet-enabled financial exchanges, including UPI, digital wallets, internet banking, and mobile banking applications. Within this ecosystem, UPI has emerged as the preferred option due to its user-friendly interface, zero transaction costs, and instantaneous processing capabilities.

Statistics indicate over 19 billion UPI transactions were processed worldwide in September 2025 alone, with a cumulative transaction value of approximately Rs 24.90 lakh crore. Additionally, June witnessed a 32 percent year-on-year growth in UPI transactions, further solidifying its role in India's transition toward a digital-centric economy.

READ | India's UPI Revolution Powers 50% Of World's Digital Payments

UPI payments have now surpassed Visa in daily global transaction volume, processing 640 million transactions each day. Much of this growth builds upon India's UPI framework, which establishes the benchmark for real-time digital payment systems by integrating technology, accessibility, and security to transform monetary exchanges.

READ | How India's UPI Is Revolutionising Global Digital Payments, Explained Simply

Celebrating India's growth narrative as one that has surmounted numerous obstacles, including the pandemic and alleged governance shortcomings of previous Congress-led UPA administrations, the Prime Minister emphasized that India has ascended to become one of the world's largest economies over the past decade.

The PM referenced various economic and financial developments to substantiate his assertion, including global ratings agency Standard & Poor's upgrade of India's credit rating in August.

S&P elevated the country's rating from BBB- to BBB with a stable outlook - the first such improvement in 17 years - positioning India among the world's top-performing economies. The agency commended India for maintaining an average 8.8 percent real GDP growth from FY22 to FY24, despite monetary uncertainties in the post-pandemic landscape and significant geopolitical challenges stemming from conflicts in Ukraine and West Asia.

Similarly, the International Monetary Fund recently revised India's GDP growth forecast for 2025/26 upward from 6.4 percent to 6.6 percent, the PM noted.

NDTV is now available on WhatsApp channels. Click on the link to get all the latest updates from NDTV on your chat.