UPI revolution: Surpasses Visa with 650 million daily transactions; ‘leading the digital payment revolution!’ says Amitabh Kant

Unified Payments Interface (UPI) has formally surpassed Visa to change into the world’s main real-time payment system, processing over 650 million transactions daily. Amitabh Kant, the former CEO of Niti Aayog, hailed the milestone on X, posting, “UPI surpasses Visa to become the world’s leading real-time payment system, processing over 650 million transactions daily.”He mentioned that reaching this milestone in simply 9 years reveals the outstanding scale and tempo of its progress.“From India to the world, UPI is leading the digital payment revolution!” In a seperate publish, the ex-G20 Sherpa additional added, “Phenomenal ! This has been one of the most notable achievement of PM Narendra Modi government. This has transformed lives of citizens.”UPI hit 650.26 million daily transactions, beating Visa’s 639 million.Despite Visa’s presence in over 200 nations, UPI’s attain throughout simply 7 nations, and its increased daily transaction rely highlights its potential as a world digital funds power. According to a current IMF Fintech Note titled ‘Growing Retail Digital Payments: The Value of Interoperability’, India now leads the world in sooner funds. The IMF noteed that UPI has seen explosive progress since its 2016 launch, whereas conventional devices like debit and bank cards have begun to see a decline in use. Developed by the National Payments Corporation of India (NPCI), UPI is an instantaneous inter-bank payment system designed for cellular platforms. At the time of the report, it processed over 18 billion transactions every month and dominates India’s digital retail funds house.