In a message on X, Modi described UPI as a significant milestone for digital payments in India. He invited people to share how the platform had influenced their everyday routines and businesses during the past decade.

Developed by the National Payments Corporation of India under RBI oversight, UPI began with an April 2016 pilot involving 21 banks. Its launch followed on August 25, 2016, with banks making their apps publicly available through Google Play that month. The government introduced BHIM in December 2016 to encourage wider use.

According to figures from the Union Finance Ministry, transaction volume climbed from 1.78 crore in 2016-17 to more than 24,162 crore in 2025-26. The value processed rose from Rs 0.07 lakh crore in the initial year to around Rs 314 lakh crore. These figures underline how substantially UPI’s use has expanded since its early rollout.

The platform supports instant transfers and allows users to connect several bank accounts through a single mobile application. Its security features include encryption and two-factor authentication. Acceptance has now spread to 11 countries, with Greece and the Maldives among the latest additions, extending its usefulness for Indians travelling overseas.