India: UPI expands globally with Trinidad & Tobago partnership

India's Unified Payments Interface (UPI) is expanding its global footprint, evidenced by Trinidad and Tobago becoming the first Caribbean nation to adopt the system during PM Modi's visit.

UPI's international collaborations and growing domestic transaction volumes highlight its pivotal role in digital diplomacy and economic engagement.

New Delhi [India] July 8 (ANI): Unified Payments Interface (UPI), India's flagship digital payments system, continues to reshape the country's digital economy while also emerging as a tool of diplomatic outreach and international collaboration. Beyond enabling instant P2P and P2M money transfers, the National Payments Corporation of India (NPCI) has steadily introduced new features on UPI to enhance the user experience and move beyond the commoditized space of payments. These include cross-border payments, integrations with loan and insurance services, and various other unique offerings.

The growing international footprint of UPI was on display during Prime Minister Narendra Modi's recent visit to Trinidad and Tobago on July 3-4.
The Ministry of External Affairs (MEA) said, "The two countries expressed strong interest in expanding cooperation in the digital domain. Prime Minister Modi congratulated Trinidad and Tobago on becoming the first Caribbean country to adopt Unified Payments Interface (UPI), India's flagship digital payment platform."

The MEA added, "They agreed to explore further collaboration in the implementation of India Stack solutions, including DigiLocker, e-Sign, and the Government e-Marketplace (GeM). Trinidad and Tobago requested support from India in digitization and upgradation of the system for state land registration. The leaders also underlined that digital governance and public service delivery can act as enablers of inclusive development, innovation and national competitiveness."

This diplomatic milestone follows another notable development during PM Modi's official visit to Cyprus in June 2025, where NPCI and Eurobank Cyprus reached an understanding to introduce UPI for cross-border payments between the two countries, aimed at deepening their economic engagement.

Domestically, UPI usage continues to scale new heights. In June 2025 alone, the platform recorded transactions worth Rs 24,03,930 crore. The growth in UPI's adoption has been exponential, with both transaction value and volume registering YoY increases measured in multiples rather than percentages.

Adding a new dimension to how market sentiment gauges' digital trends, India's largest opinion trading platform, Probo, has seen increasing trader interest in UPI-related forecasts. An event contract on Probo - as of July 8, with approximately 3,000 active traders - assigns an 80% probability that UPI transaction value will hit or exceed Rs 25,00,000 crore in July 2025. As of July 7, per the NPCI official website the UPI transaction value had reached Rs 6,60,102 crore. (ANI)