Mumbai: Prime Minister Narendra Modi has called for the next phase of India’s Unified Payments Interface (UPI) expansion to focus on deeper links with the payment systems of other countries, particularly nations with large Indian communities and strong trade ties with India.
UPI’s global journey enters a new phase
Addressing the Global Fintech Fest 2026 in Mumbai, Modi said UPI is now live in 11 countries, marking a significant expansion of India’s home-grown digital payment system. He stressed that international availability should now be followed by stronger integration with local payment networks.
The Prime Minister pointed to the existing connection between UPI and Singapore’s PayNow as an example of what could be achieved elsewhere. Such links can make cross-border payments faster and more convenient while reducing barriers for individuals and businesses.
Focus on Indians and global trade
Modi urged the fintech sector to prioritise countries where large numbers of Indians live and where India has substantial trade relationships. Deeper payment connectivity could help the Indian diaspora send money home more conveniently and potentially reduce remittance costs.
India has already taken steps towards greater regional financial connectivity. In June, India and Nepal launched a direct UPI-National Payments Interface linkage for instant cross-border person-to-person transfers.
UPI records underline its growing reach
The Prime Minister highlighted the scale of domestic adoption, with UPI processing more than 24 billion transactions in August alone. He described the platform’s international expansion as only the beginning of a larger digital payments journey.
With cross-border payment systems becoming increasingly interconnected, India’s push could strengthen digital financial links for travellers, businesses and the Indian diaspora while further establishing UPI as a major global payments platform.