- UPI accounts for over 80% of retail transactions in India within a decade
- A viral video showed seamless UPI currency conversion from NPR to INR in Nepal
- Google Pay enabled instant payment with zero extra charges during Nepal shopping
In less than a decade, the Unified Payments Interface (UPI) has become the backbone of India's digital economy, now accounting for over 80 per cent of all retail transactions. This home-grown tech is rapidly going global, a fact recently highlighted by a viral Instagram video from a user named Anshuman Bhagat. During a trip to Nepal, Bhagat showed how UPI handled the transaction instantly and seamlessly, including currency conversion from Nepalese Rupees (NPR) to Indian Rupees (INR).
The clip shows Bhagat using the Google Pay app to scan a merchant's QR code. After he entered NPR 2,100, the app automatically converted the amount to Rs 1,312.50.
"It was an amazing experience to shop abroad in Nepal with INR," Bhagat captioned the accompanying video, adding: "Cross-border payments made surprisingly smooth."
Bhagat stated that the super smooth real-time conversion of the currency was a big highlight of the entire transaction, adding that he was not charged extra for the payment.
"Used my Indian phone & Indian bank account to pay through @googlepay on a @fonepaynepal QR while shopping. Some QRs don't support it, but this one worked flawlessly, instant payment with zero charges."
Check The Viral Clip Here:
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UPI's Success Story
Launched in 2016 by the National Payments Corporation of India (NPCI), UPI enables users to transfer money instantly, 24x7, using any mobile app linked to their bank accounts. In January 2026, UPI processed 21.70 billion transactions worth over Rs 28.33 lakh crore, reflecting its deep integration into everyday commerce.
The International Monetary Fund, in its June 2025 report on growing retail digital payments, recognised UPI as the world's largest retail fast payment system by transaction volume. The 2024 ACI Worldwide report titled Prime Time for Real Time noted that UPI accounts for around 49 per cent of global real-time payment transaction volume.
UPI is already operational in several countries, including Nepal, Sri Lanka, France, Singapore, and the UAE. Its expansion to Europe via France marks a significant step in global adoption.
