Global leader: UPI surpasses 3,700 transactions per second, up 58% on year

Unified Payments Interface (UPI) has emerged as the world’s most popular alternative payment method, with 3729.1 transactions per second in 2023, shows data analysed by global payments hub Paysecure.

This is a 58% increase over the 2,348 transactions every second in 2022. UPI is a real-time payment system that allows users to make a bank transfer instantly. It is regulated by India’s central bank and has been in use since 2016.