Status
Operating at scale
If a RTPS exists
Yes
Vision: PSP interoperability
Yes
Name (Payment)
Unified Payment Interface (UPI)
URL (Payment)
Region
Asia
# of participants
2024- 598
AML law
Yes
Bank participation in network
Yes
Centralised fraud management system?
Yes
Consumer protection law
Yes
Governor
Central bank/ Financial regulator
Non-bank participation in network
Yes
Notes
Bharat Bill pay (mentioned in the DPI compendium) can be included within this or separately
Offline transactions
Yes
Operator
Banking association
QR-based transactions
Yes
Reporting forum/ website/ form
Yes
Rules: data handling rules for PSPs, users
Unknown
Rules: data leak notifications
Unknown
Rules: participation conditions
Unknown
Rules: recourse mechanism
Unknown
Rules: transaction recall
Unknown
Settlement systems
Unknown
Transaction cost
Free for P2P
Transaction types
P2P
P2M
B2B
P2G
Value (Year-USD)
2024- 24 B
Volume (Year- Volume)
2024- 14K M