New Delhi, Dec. 8 -- The International Monetary Fund (IMF) report on 'Growing Retail Digital Payments (The Value of Interoperability)' dated June 2025 had recognized Unified Payments Interface (UPI) as the world's largest retail fast-payment system (FPS) by transaction volume.

According to the Ministry of Finance, further, as per the ACI Worldwide report on 'Prime Time for Real-Time' 2024, UPI has around 49 per cent share in the global real-time payment system transaction volume.

In order to support small scale merchants in adopting digital payment systems including UPI, various initiatives have been taken up by the Government, Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI) from time to time.

These inter ...