Speaking in Mumbai at the Global Fintech Fest 2026, Modi said international expansion should go beyond making UPI available abroad. The service currently operates in 11 countries. He called for closer connections with markets that have sizeable Indian communities or strong trade relationships with India.

Singapore’s existing payment link was highlighted as a model for further partnerships. Such connections could reduce transfer charges that eat into workers’ remittances and help families receive funds sooner. Integration with Indonesia’s payment network has been confirmed, although the report gives no launch date.

Modi also urged fintech businesses to expand lending, insurance and investment access rather than concentrate only on payments. India recorded 2,500 crore UPI transactions during August, averaging roughly 50 lakh every ten minutes. He suggested that merchants’ digital receipts could help lenders assess their businesses and design suitable loans.

The speech linked wider financial access with the needs of small traders, delivery partners and people outside mainstream banking. Modi pointed to UPI’s contribution to PM SVANidhi, the street-vendor lending programme, which has been extended to 2030. He also stressed cybersecurity, responsible handling of data, strong regulatory oversight and a proposed consumer-protection index for fintech companies.