Unified Payments Interface (UPI): inception, evolution, and future

Yoshita Sharma

Chapter 5 in Research Handbook on FinTech, 2026, pp 92-99 from Edward Elgar Publishing

Abstract: India implemented a new phone-based payment system in 2016. This is a pathbreaking tool in the hands of smartphone users to connect their bank accounts with a mobile phone application. This was named the Unified Payments Interface (UPI). Through this, they can enjoy fast and convenient fund transfers between accounts in a user-friendly and secure manner. A growing number of participants are joining this system in India. The article examines UPI's development, impact on India's fintech landscape, future growth potential, and emerging security concerns.

Keywords: Unified Payments Interface; UPI; Digital payments; Financial inclusion; Security (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035321414
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