India's UPI emerges as market leader in global retail payment market
India's United Payments Interface (UPI) has emerged as the world's largest retail fast-payment system accounting for nearly half of all digital payments made worldwide.
With $129.3 billion, the UPI's share in global retail transactions is at 49% in terms of volume out of the total global retail payment transactions of $266. 2 billion, the Indian finance ministry said citing ACI Worldwide report on 'Prime Time for Real-Time' 2024.
The International Monetary Fund (IMF) report on 'Growing Retail Digital Payments (The Value of Interoperability)' dated June 2025 recognised UPI as the world's largest retail fast-payment gateway by transaction volume.
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The detailed comparison underlining UPI's current status and market share against other leading international real-time payment platforms places the Indian retail payment gateway far ahead.
Brazil, with $37.4 billion, is in second spot followed by Thailand ($20.4 billion), China ($17.2 billion), South Korea ($9.1 billion) and others taken together ($52.8 billion).
