Indians may soon be able to take out cash with Uniform payment interface (UPI), the world’s largest interoperable and real -time payment system, on over 2 million business correspondent sites (BC). At present, UPI-enabled cash withdrawals are limited to certain ATMs and a small number of merchants. BCs are individuals or units, such as non-governmental organizations (non-state organizations) and shop owners, which offer basic banking services in remote areas that do not have sufficient bank branches or ATMs.
National Payments Corporation of India (NPCI), the umbrella organ for digital payments in India, is reportedly seeking Permission from India’s reserve bank (RBI) to expand this service. If implemented, the system would enable users to scan an UPI QR code with their mobile appapprove the transaction and receive cash directly from BC. This initiative is expected to be particularly useful for people who prefer not to use physical debit cards.
In recent years, UPI has witnessed Explosive growthrapidly transform how Indians carry out digital transactions and even pop up as a formidable competitor to the country’s own Central Bank digital currency (CBDC). RBI, in the last annual reportstated that during the financial year 2024-25, the total digital payments registered for a growth of 34.8% in volume and 17.9% respectively in value.
“In addition, the success is for UPI placed India in leadership position With a share of 48.5% in global real -time payments in volume, RBI said in its report.
‘UPI carries India’s reputation for innovation’
With a new monthly item with 20 billion transactions, UPI now rivals-and even surpass—The of the Global Card issuer Visa (Nasdaq: v) on certain days. UPI’s global expansion accelerates at an unprecedented rate and is Already live In eight countries, including the United Arab Emirates (UAE), Singapore, Qatar, Bhutan, Nepal, Sri Lanka, France and Mauritius.
“Now India is unified Payments Interface Technology with other Commonwealth nations and joins its own digital payment systems with countries such as Singapore To lower the cost of cross -border payments. Today, this is the main way that small businesses receive payments. The technology is open source code, so other countries can soon start using it, ” According to the World Economic Forum.
In August 2025 processed more than 20 billion Transactions worth over 24.85 Lakh Crore ($ 280 billion), accounts for 85% of all digital transactions in India And almost 50% globally. This shows how deep upi has been woven into the daily life of ordinary Indians –From vegetable suppliers in small towns to female entrepreneurs in the countryside.
From September 15, users can make trade transactions of up to £ 10 Lakh ($ 11,270) per day for selected verified categories and thus facilitate greater adoption of digital payments for high -rating transactions.
“For decades, global funding was defined by Western institutions and card networks. Now an Indian built public digital platform is shown as an export. UPI does not only carry money across borders; it carries India’s reputation for innovation, inclusion and scale,” said India’s government in a recent statement.
“In Singapore, UPI has been linked to Paynow to enable immediate cross -border transfers. In Uae And Mauritius, Indian travelers can pay for goods and services using UPI. IN FranceIndian tourists can now pay at the Eiffel Tower by simply scanning a QR code and solving the bill in Rupier. Nepal And Bhutan has already adopted UPI for transfers, and conversations are ongoing with central banks and fintechs over Asia, Africaand Europe“Added it.
Deutsche Bank adopts Upi for faster payments in India
Fits in with UPI-boom, Germany-head office Deutsche Bank announced Its integration with UPI, with an advanced direct payment infrastructure that supports high -speed transactions and scalable operations. This installation is built to meet the needs of large -scale traders and suppliers of payment services (PSPS).
With this upgrade, the bank can now offer direct UPI collection services in India, which allows customers to accept payments seamlessly from customers. This is expected to improve collection efficiency, provide real -time tracking, simplify reconciliation and ensure that local legislative requirements follow.
“UPI is the path of the future for digital payments in India, and daily transactions are expected to reach 1 billion over the next few years, giving us significant opportunities,” Oliver von Quadt, Deutsche Bank’s global head of trading solutions – acceptance, said in a statement.
“We see a significant potential to continue to grow our trading solution in India, while we are still early days, we see a great deal of interest from our corporate customers and PSPS for this offer with the goal of improving the overall customer experience,” added von Quadt.
By reducing the number of intermediaries that are usually involved in PSP-based payment flows, Deutsche Bank’s direct connection is likely to improve transaction success. Customers would also benefit from immediate access to insights on payment collections, transaction status and customer activity, resulting in a faster and more reliable payment experience.
Axis Bank rolls out India’s first gold-supported UPI credit
Riding Upi Wave, Indian Private Lender Axelbanktogether with its wholly owned subsidiary Free feeHas introduced credit at UPI, with the support of gold loans. This marks India’s first credit limit linked to gold and available via UPI.
This solution aims to utilize the value of gold resources to provide quick credit. The move is expected to benefit especially micro, small and medium-sized companies (MSME), self-employed and small merchants in both rural and urban regions.
This roll -out complies with NPCI’s latest guidelines, enabling Credit lines on UPISimplify access to secure credit, reduce dependence on manual processes and support financial inclusion in scale.
“With credit on UPI with gold loans, Axis Bank sets a new standard for secure credit in the digital age. By collecting gold reliability and convenience with UPI, we make instant, flexible credit to a reality for customers everywhere … We believe this product is unique digital functions will drive rapid adoption and give customers greater control over their financing, restrail, restrail, restrail, restraints. Shard, “,”, “,”, “,”, “,”, “, resale of our leader in UPI-linked credit,” Munish Shard will drive rapid adoption and give customers greater control over their finances, strengthens our leader in UPI-linked credit, “Munish Shard will drive rapid adoption and give customers greater control over their economy, enhancement of their economy, enhancers. Shard, “, a boss of Ax of Ax-Bank said in a statement.
This facility allows existing Axis bank customers to immediately access funds against their gold holdings. When the loan is sanctioned at any gold-loan enabled branch, customers can digitally manage both payments and repayments, without the need for further personal visits, according to the statement. Interest is only taken on the amount actually used, making it a flexible and affordable alternative for managing cash flow, expanding companies or meeting urgent financial needs. Transactions can be implemented directly via UPI or UPI QR codes with freecharge or any UPI-enabled app.
“Credit at UPI offers financial institutions a strong framework for expanding and simplifying access to credit. Axis Bank’s gold-supported credit line shows how this infrastructure can make access to credit more seamless, safe and widely available within India’s digital payment ecosystem,” said Sohini Rajola, CEO of Director-DPCI.
UPI, which already controls half of the world’s real -time payments, has received recognition from many global organizations, including the International Monetary Fund (IMF). The IMF pointed out In a report from September 2025, countries that try to increase digital payments can draw several lessons from India’s experience.
“Interoperability was an important driving force for India’s success in expanding digital payments. But several other factors also contributed. These include a broad digital ID system, financial inclusion programs and affordable mobile internet,” said the IMF report.
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