NPCI Targets South-East Asia for UPI Expansion
South-East Asian markets on UPI radar as NPCI pushes global expansion
Business Standard
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NPCI International Payments is focusing on South-East Asian nations like Indonesia, Malaysia, and Thailand to expand its Unified Payments Interface (UPI) network, which is already operational in eight countries. The aim is to enhance global adoption and increase transaction volumes.
- 01NPCI International Payments is exploring partnerships in Indonesia, Malaysia, and Thailand for UPI expansion.
- 02UPI is currently accepted in eight countries including Bhutan, France, and the UAE.
- 03The international transaction volume of UPI reached 1.48 million in FY26, nearly doubling from the previous fiscal year.
- 04UPI's transaction value in FY26 was ₹330.43 crore, up from ₹258.53 crore in FY25.
- 05Plans are underway to operationalize UPI in additional countries like Japan, the Maldives, and Greece.
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NPCI International Payments (NIPL) is actively pursuing expansion of India's Unified Payments Interface (UPI) into high-traffic South-East Asian markets such as Indonesia, Malaysia, and Thailand. This initiative aims to enhance global adoption of UPI, which is already accepted in eight countries, including Bhutan, France, and the UAE. Dilip Asbe, CEO of the National Payments Corporation of India (NPCI), indicated that establishing bilateral linkages with these nations could significantly increase transaction volumes in the region. As of FY26, UPI's international transaction volume surpassed one million, reaching 1.48 million, a substantial increase from 0.75 million in FY25. The value of these transactions also rose to ₹330.43 crore in FY26, compared to ₹258.53 crore in FY25. NIPL is also looking to expand UPI's reach to Japan, the Maldives, and Greece, reflecting its long-term strategy to create bilateral payment systems globally over the next 20 to 25 years.
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The expansion of UPI into South-East Asia could facilitate easier cross-border transactions for Indian travelers and businesses, enhancing trade and tourism.
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