Overview

• The IMF’s latest fintech note names UPI the world’s fastest retail payments platform, citing more than 18 billion transactions per month and a drop in cash usage proxies.
• NPCI International Payments Ltd has inked a licensing pact with the Bank of Namibia to roll out UPI for real-time payments in the country before year-end.
• In the UAE, NIPL is working with regulators and acquirers to integrate rupee-denominated UPI across sectors such as retail, hospitality and transportation.
• Domestic UPI volumes remain highly concentrated, with PhonePe and Google Pay together accounting for over 82 percent of June transaction volumes.
• UPI’s interoperable, open-loop design continues to fuel global adoption following earlier partnerships in Trinidad and Tobago and the UAE.