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Wire · operational-macro

UPI at 10: Financial inclusion needs a second act

Published

6 September 2026

Topic

operational-macro

Sectors

Fintech

Geography

India

Source

Read at policycircle.org

Verified

Fusion42 · 6 September 2026 · Fusion42 review

India's Unified Payments Interface (UPI) has revolutionised digital payments with massive scale and interoperability, supporting financial inclusion efforts linked to bank accounts under the Jan Dhan scheme. The next challenge is driving regular, safe use of this infrastructure for diverse financial activities beyond payments, while managing competition and international expansion risks.

This Wire brief sits within Fusion42's coverage of Fintech.

◆ The Wire takeaway

You can no longer rely on scale alone in Indian payments. Focus now goes to engaging users for ongoing financial activity and navigating tighter regulatory competition rules and cross-border expansion challenges.

Coverage

1 source · 6 Sep 2026

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Topics

Fintechdigital-paymentsfinancial-inclusionupiinteroperabilityindiaregulation