Sector Intelligence

Digital Payments & Fintech Index

Tracking all sovereign digital payments & fintech entries across India.

UPI and the Next Phase of India's Digital Payments

The Unified Payments Interface (UPI) enters a new phase with NPCI's revised MDR framework for P2M transactions above ₹2,000 from October 2026, Tap & Pay, and credit linkage.

Governing body: National Payments Corporation of India (NPCI) Monthly volume: ~24 Billion transactions (~$311 Billion in Aug 2026)