Union Commerce and Industry Minister Piyush Goyal witnessed the live demonstration of India's Unified Payments Interface (UPI) services at Eurobank headquarters in Athens on Tuesday, marking another step in the international expansion of India's digital payment system, according to an official release issued by the Ministry of Commerce and Industry.&nbsp;The launch took place in the presence of Eurobank CEO Fokion Karavias and Fairfax Digital Services CEO Sanjay Tugnait during Goyal's visit to Greece. He is leading a delegation of senior business leaders and government officials to promote economic cooperation and strengthen commercial ties between the two countries.&nbsp;Describing the development as an important achievement, Goyal said, "The launch marks another important milestone in the global expansion of India's digital payment ecosystem."&nbsp;"With UPI now live in Greece, eligible customers can transfer money instantly, securely, and seamlessly, with transaction costs reduced significantly to a fraction of those associated with conventional money transfer methods," he added.

<blockquote class="twitter-tweet">Delighted to witness the live demonstration of the Eurobank-NIPL partnership enabling UPI services at Eurobank headquarters in Athens, alongside its CEO, Mr. Fokion Karavias, and CEO of Fairfax Digital Services, Mr. Sanjay Tugnait, marking another important milestone in the… <a href="https://t.co/whBtb02UdO">pic.twitter.com/whBtb02UdO</a>&mdash; Piyush Goyal (@PiyushGoyal) <a href="https://x.com/PiyushGoyal/status/2071822392998162508?ref_src=twsrc%5Etfw">June 30, 2026</a></blockquote> <script async src="https://platform.x.com/widgets.js" charset="utf-8"></script>

Goyal's visit to the European nation included several high-level engagements aimed at expanding economic cooperation between India and Greece.&nbsp;Also Read: <a href="https://www.wionews.com/world/us-supreme-court-upholds-trump-s-birthright-citizenship-for-order-1782830220327">US Supreme Court strikes down Trump's birthright citizenship order</a>&nbsp;The programme began with a meeting between the Indian delegation and the leadership of Eurobank at Hotel Grande Bretagne in Athens. The discussions focused on strengthening financial cooperation while exploring investment and business opportunities.&nbsp;The delegation later attended the India Greece Business Council Meeting and Business Forum at the Athens Chamber of Commerce and Industry. Three sector-specific roundtables were organised covering infrastructure, including energy, ports, logistics, shipbuilding, warehousing, trade, gem and jewellery, digital innovation, defence, and food processing and agriculture.&nbsp;Business leaders from both countries participated in the discussions to identify areas of mutual interest and explore opportunities for collaboration across multiple sectors. The event concluded with an address by Goyal, who highlighted the shared commitment to promoting trade, investment and innovation-driven growth.&nbsp;With Greece joining the network, UPI is now available in 10 countries through services such as QR-based merchant payments for Indian travellers and cross-border remittance facilities.&nbsp;The countries where UPI is currently available are Singapore, United Arab Emirates, France, Mauritius, Nepal, Bhutan, Qatar, Sri Lanka, Cambodia and Greece.

Calling the development a major achievement, Union Commerce Minister Piyush Goyal said the launch marked another important milestone in the global expansion of India's digital payment ecosystem.

Union Commerce and Industry Minister Piyush Goyal witnessed the live demonstration of India's Unified Payments Interface (UPI) services at Eurobank headquarters in Athens on Tuesday, marking another step in the international expansion of India's digital payment system, according to an official release issued by the Ministry of Commerce and Industry. The launch took place in the presence of Eurobank CEO Fokion Karavias and Fairfax Digital Services CEO Sanjay Tugnait during Goyal's visit to Greece. He is leading a delegation of senior business leaders and government officials to promote economic cooperation and strengthen commercial ties between the two countries. Describing the development as an important achievement, Goyal said, "The launch marks another important milestone in the global expansion of India's digital payment ecosystem." "With UPI now live in Greece, eligible customers can transfer money instantly, securely, and seamlessly, with transaction costs reduced significantly to a fraction of those associated with conventional money transfer methods," he added.

Calling the development a major achievement, Union Commerce Minister Piyush Goyal said the launch marked another important milestone in the global expansion of India's digital payment ecosystem.

UPI launches in Greece, expands global footprint: Check the countries where it works

The authorities are planning to widen the reach of the unified payments interface (UPI) by enabling cash withdrawals through smartphones. Individuals, non-profits, and grocers, who act as 'business correspondents' (BCs), may soon have QR codes that users can use through UPI apps to withdraw money.&nbsp;As of now, UPI-driven cash withdrawals can be done using ATMs. Merchants can also give cash as much as Rs 1000 per transaction in cities and Rs 2000 in villages. According to ET, authorities are planning to enable such facilities at around 2 million BCs across&nbsp;the nation.&nbsp;National Payments Corporation of India (NPCI) has reportedly sought the RBI's clearance for extending the UPI-based cash withdrawal at BCs, ET reported, citing sources.<h2>How would it work?</h2>According to the report, the UPI system will allow&nbsp;BC outlets to provide cash to the account holders. An equivalent&nbsp;amount&nbsp;of money will be deducted from the users' accounts. As of now, BCs can use ATM cards to withdraw money using micro-ATMs.&nbsp;In rural areas, an Aadhaar-enabled system is currently in use in which&nbsp;BCs scan account holders' fingerprints&nbsp;to take out cash from their bank accounts.&nbsp;This service can be used for those whose fingerprints are not easily readable and those who are not comfortable using ATM cards for security reasons. Many customers would prefer to use this system instead of ATMs.&nbsp;However, ATMs may still be useful as they are open the entire day and can store more cash.&nbsp;If approved, customers will be able to take out money up to Rs 10,000 from BC outlets.

The authorities are planning to widen the reach of the unified payments interface (UPI) by enabling cash withdrawals through smartphones.

The authorities are planning to widen the reach of the unified payments interface (UPI) by enabling cash withdrawals through smartphones. Individuals, non-profits, and grocers, who act as 'business correspondents' (BCs), may soon have QR codes that users can use through UPI apps to withdraw money. As of now, UPI-driven cash withdrawals can be done using ATMs. Merchants can also give cash as much as Rs 1000 per transaction in cities and Rs 2000 in villages. According to ET, authorities are planning to enable such facilities at around 2 million BCs across the nation. National Payments Corporation of India (NPCI) has reportedly sought the RBI's clearance for extending the UPI-based cash withdrawal at BCs, ET reported, citing sources. How would it work? According to the report, the UPI system will allow BC outlets to provide cash to the account holders. An equivalent amount of money will be deducted from the users' accounts. As of now, BCs can use ATM cards to withdraw money using micro-ATMs. In rural areas, an Aadhaar-enabled system is currently in use in which BCs scan account holders' fingerprints to take out cash from their bank accounts. This service can be used for those whose fingerprints are not easily readable and those who are not comfortable using ATM cards for security reasons. Many customers would prefer to use this system instead of ATMs. However, ATMs may still be useful as they are open the entire day and can store more cash. If approved, customers will be able to take out money up to Rs 10,000 from BC outlets.

Unified payments interface news: National Payments Corporation of India (NPCI) has reportedly sought the RBI's clearance for extending the UPI-based cash withdrawal at BCs.

Cash withdrawals with smartphones using UPI scanners soon: Report

In yet another boost for the Unified Payments Interface (UPI), the Reserve Bank of India on Friday raised the transaction limit for payments to hospitals and educational institutions via the homegrown platform.

The central bank will enhance the transaction limit from ₹1 lakh to ₹5 lakh per transaction. This, the RBI said, will help consumers make UPI payments of higher amounts for education and healthcare purposes.

Given the rising popularity of e-Mandates for making recurring payments, transaction limits for e-Mandates have been hiked from ₹15,000 to ₹1 lakh. This is likely to help consumers make recurring payments for mutual funds, insurance premium and credit cards.

Medical, education sectors welcome move

Welcoming the hike in the transaction limits, Gaurav Gupta, Co-Founder, CarePay, said that the previous limit of ₹1 lakh was simply too low, especially for major surgeries in metropolitan and Tier 1 cities.&nbsp;

"UPI is already the preferred payment method for many patients. Patients are understandably worried about their treatment during such critical times. Technologies like UPI empower them to focus on getting better without the stress of managing large payments," he said.&nbsp;

The education sector, estimated to be worth $117 billion, too lauded the move, arguing that the limit hike will ease large educational transactions.&nbsp;

"Education expenses can be quite significant and are usually accompanied by strict deadlines. However, the forward-looking move will help students and their parents to make seamless payments without relying on alternatives like demand drafts," said Dr Christopher Abraham, Head of Campus (Dubai), SP Jain School of Global Management.&nbsp;

He added that the move will not only empower institutes to effectively manage their finances but also smoothen financial processes involving research grants, infrastructure development, and other institutional expenses.&nbsp;

Echoing similar views, Neeti Sharma, Co-founder of TeamLease Edtech, said that the enhanced UPI limit will make education-related transactions "more student-friendly".&nbsp;

Boost to fintech sector&nbsp;

During his presser, RBI Governor Shaktikanta Das also proposed to set-up a 'Fintech Repository', which is expected to help give a better understanding of developments in the Fintech ecosystem. "This will be operationalised by the Reserve Bank Innovation Hub in April 2024 or earlier," he added.&nbsp;

Anand Agrawal, Co-Founder, Credgenics, called the proposal a "positive move", adding that it will act as a catalyst for further innovation in the fintech sector.&nbsp;

"It will foster collaboration among fin-techs, financial services industry, and regulators. Encouraging voluntary contributions from fin-techs will empower regulators with real-time insights and enable informed, agile, and risk-mitigating decision-making," he said.&nbsp;

Led by the UPI platform, India's fintech sector is making waves across the world. As per various reports, India's fintech sector is the third-largest and is among the fastest-growing in terms of funding and deal volumes.&nbsp;

Helped by a robust Digital Public Infrastructure, consulting giant BCG predicts that Indian fintech revenues will grow 35 per cent each year to reach $190 billion by 2030.&nbsp;

In yet another boost for the Unified Payments Interface (UPI), the Reserve Bank of India on Friday raised the transaction limit for payments to hospitals and educational institutions via the homegrown platform.

In yet another boost for the Unified Payments Interface (UPI), the Reserve Bank of India on Friday raised the transaction limit for payments to hospitals and educational institutions via the homegrown platform. The central bank will enhance the transaction limit from ₹1 lakh to ₹5 lakh per transaction. This, the RBI said, will help consumers make UPI payments of higher amounts for education and healthcare purposes. Given the rising popularity of e-Mandates for making recurring payments, transaction limits for e-Mandates have been hiked from ₹15,000 to ₹1 lakh. This is likely to help consumers make recurring payments for mutual funds, insurance premium and credit cards. Medical, education sectors welcome move Welcoming the hike in the transaction limits, Gaurav Gupta, Co-Founder, CarePay, said that the previous limit of ₹1 lakh was simply too low, especially for major surgeries in metropolitan and Tier 1 cities. "UPI is already the preferred payment method for many patients. Patients are understandably worried about their treatment during such critical times. Technologies like UPI empower them to focus on getting better without the stress of managing large payments," he said. The education sector, estimated to be worth $117 billion, too lauded the move, arguing that the limit hike will ease large educational transactions. "Education expenses can be quite significant and are usually accompanied by strict deadlines. However, the forward-looking move will help students and their parents to make seamless payments without relying on alternatives like demand drafts," said Dr Christopher Abraham, Head of Campus (Dubai), SP Jain School of Global Management. He added that the move will not only empower institutes to effectively manage their finances but also smoothen financial processes involving research grants, infrastructure development, and other institutional expenses. Echoing similar views, Neeti Sharma, Co-founder of TeamLease Edtech, said that the enhanced UPI limit will make education-related transactions "more student-friendly". Boost to fintech sector During his presser, RBI Governor Shaktikanta Das also proposed to set-up a 'Fintech Repository', which is expected to help give a better understanding of developments in the Fintech ecosystem. "This will be operationalised by the Reserve Bank Innovation Hub in April 2024 or earlier," he added. Anand Agrawal, Co-Founder, Credgenics, called the proposal a "positive move", adding that it will act as a catalyst for further innovation in the fintech sector. "It will foster collaboration among fin-techs, financial services industry, and regulators. Encouraging voluntary contributions from fin-techs will empower regulators with real-time insights and enable informed, agile, and risk-mitigating decision-making," he said. Led by the UPI platform, India's fintech sector is making waves across the world. As per various reports, India's fintech sector is the third-largest and is among the fastest-growing in terms of funding and deal volumes. Helped by a robust Digital Public Infrastructure, consulting giant BCG predicts that Indian fintech revenues will grow 35 per cent each year to reach $190 billion by 2030.

India: RBI hiking UPI transaction limits gets an industry thumbs up

State Bank of India (SBI) in its latest report has said that the Unified Payments Interface (UPI) has replaced much of the currency in circulation. Of all, the largest share in UPI transactions is of semi-urban areas at 35 per cent. Metros account for a 20 per cent share in the value of total UPI transactions, while urban areas account for 20 per cent and rural for 25 cent.&nbsp;

According to the report, the top 15 Indian states in terms of using UPI for digital payments are Andhra Pradesh, Maharashtra, Telangana, Karnataka, Uttar Pradesh, Rajasthan, Tamil Nadu, Bihar, West Bengal, Odisha, Kerala, Madhya Pradesh, Gujarat, Assam and Haryana. The states accounted for 90 per cent of total UPI transactions in terms of value, and the average ticket size ranged from INR 1,600 to 2,000 ($19 to $25).

“Thus, UPI has effectively replaced much of the currency in circulation,” the SBI report mentioned.&nbsp;

<h2>UPI: Driving India’s digital payment revolution</h2>

According to the Economic Survey 2023 released earlier this year by India’s Finance Ministry, more than 52 per cent of 8,840 crore financial digital transactions were done using UPI in the financial year 2022-23.

December 2022 was the month which saw UPI touching its highest-ever mark in transactions in terms of value. A whopping 782 crore transactions worth INR 12.8 lakh crore were made during that month alone.&nbsp;

<h2>India to export UPI to Gulf nations</h2>

The UPI’s owner, which is the National Payments Corporation of India (NPCI), is in talks to export UPI to several Gulf countries including the UAE and Bahrain. As per media reports, the move will incredibly help Indian workers living and working there, as they regularly send money to their family members living in India.&nbsp;

Watch:&nbsp;UPI to take over 90% of retail digital payments in India

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The NPCI has already allowed Non-Resident Indians (NRIs) from Singapore, Australia, Canada, Hong Kong, Oman, Qatar, the US, Saudi Arabia, UAE, and the UK to use UPI on their international number while they stay in India.

<h2>Japan also interested in using UPI</h2>

Japanese Digital Minister Kono Taro last month in an exclusive interview with WION revealed that his nation was seriously considering joining India's UPI payment system.&nbsp;

<a href="https://www.wionews.com/business-economy/paving-the-way-for-a-cashless-india-upis-billion-dollar-triumph-beckons-597745">Also read:&nbsp;India`s UPI set to record 1 billion daily transactions by 2026-27: Report</a>

Speaking with WION's correspondent Sidhant Sibal,&nbsp;<a href="https://www.wionews.com/world/exclusive-japan-considering-joining-indias-upi-payment-system-says-japanese-minister-kono-taro-593773" target="_blank">Minister Taro said</a>, “Japan and India are trying to promote digital co-operation. We are serious about joining India's UPI payment system and also contemplating how we can mutually recognise EID, starting with co-operation to increase interoperability. G7 agrees to establish a new framework with a new secretariat on cross-border data flow and we are hoping that the Indian government will join this framework.”&nbsp;

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State Bank of India (SBI) in its latest report has said that the Unified Payments Interface (UPI) has replaced much of the currency in circulation. Of all, the largest share in UPI transactions is of semi-urban areas at 35 per cent.

State Bank of India (SBI) in its latest report has said that the Unified Payments Interface (UPI) has replaced much of the currency in circulation. Of all, the largest share in UPI transactions is of semi-urban areas at 35 per cent. Metros account for a 20 per cent share in the value of total UPI transactions, while urban areas account for 20 per cent and rural for 25 cent. According to the report, the top 15 Indian states in terms of using UPI for digital payments are Andhra Pradesh, Maharashtra, Telangana, Karnataka, Uttar Pradesh, Rajasthan, Tamil Nadu, Bihar, West Bengal, Odisha, Kerala, Madhya Pradesh, Gujarat, Assam and Haryana. The states accounted for 90 per cent of total UPI transactions in terms of value, and the average ticket size ranged from INR 1,600 to 2,000 ($19 to $25). “Thus, UPI has effectively replaced much of the currency in circulation,” the SBI report mentioned. UPI: Driving India’s digital payment revolution According to the Economic Survey 2023 released earlier this year by India’s Finance Ministry, more than 52 per cent of 8,840 crore financial digital transactions were done using UPI in the financial year 2022-23. December 2022 was the month which saw UPI touching its highest-ever mark in transactions in terms of value. A whopping 782 crore transactions worth INR 12.8 lakh crore were made during that month alone. India to export UPI to Gulf nations The UPI’s owner, which is the National Payments Corporation of India (NPCI), is in talks to export UPI to several Gulf countries including the UAE and Bahrain. As per media reports, the move will incredibly help Indian workers living and working there, as they regularly send money to their family members living in India. Watch: UPI to take over 90% of retail digital payments in India × The NPCI has already allowed Non-Resident Indians (NRIs) from Singapore, Australia, Canada, Hong Kong, Oman, Qatar, the US, Saudi Arabia, UAE, and the UK to use UPI on their international number while they stay in India. Japan also interested in using UPI Japanese Digital Minister Kono Taro last month in an exclusive interview with WION revealed that his nation was seriously considering joining India's UPI payment system. Also read: India`s UPI set to record 1 billion daily transactions by 2026-27: Report Speaking with WION's correspondent Sidhant Sibal, Minister Taro said, “Japan and India are trying to promote digital co-operation. We are serious about joining India's UPI payment system and also contemplating how we can mutually recognise EID, starting with co-operation to increase interoperability. G7 agrees to establish a new framework with a new secretariat on cross-border data flow and we are hoping that the Indian government will join this framework.” WATCH WION LIVE HERE ×

India’s UPI largely replaced currency in circulation, semi-urban areas account for largest share: Report