Current Affairs - State - Discussion

As of early June 2025, India’s Unified Payments Interface (UPI) has overtaken Visa in daily transaction volumes, recording over 650 million transactions per day compared to Visa’s global daily average of 640 million. This marks a historic moment where a homegrown digital payments system from an emerging economy outpaces one of the largest international card networks. UPI’s rapid growth can be attributed to its real-time, zero-cost model, increasing smartphone and internet usage, deeper rural adoption, and merchant integration across various scales. Innovations like offline payments and credit-based UPI services, it is reshaping the global payments ecosystem.