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Updated:Apr 23, 2026
|Privacy Policy

India's Unified Payments Interface (UPI) introduction and scaling (2016–2021)

India's Unified Payments Interface (UPI) introduction and scaling (2016–2021)

  1. NPCI created to run retail payment rails

    Labels: NPCI, RBI
  2. UPI publicly launched as real-time bank payments

    Labels: UPI, NPCI
  3. Third-party apps begin scaling UPI usage

    Labels: Third-party apps, PhonePe
  4. Demonetisation accelerates demand for digital payments

    Labels: Demonetisation, Government of
  5. BHIM app released to popularize UPI

    Labels: BHIM, NPCI
  6. UPI 2.0 launched with overdraft and mandates

    Labels: UPI 2, NPCI
  7. UPI reaches ₹1 trillion monthly transaction value

    Labels: UPI
  8. UPI crosses 1 billion transactions in a month

    Labels: UPI, NPCI
  9. UPI reaches 2 billion monthly transactions

    Labels: UPI
  10. WhatsApp Pay approved for limited UPI rollout

    Labels: WhatsApp Pay, NPCI
  11. UPI sets a new high above 3 billion monthly transactions

    Labels: UPI