India expands UPI services to Israel
The implementation of UPI in Israel is expected to facilitate easy digital payments for individuals and companies in both nations, boosting investment, trade, and tourism
In a major step toward cooperation in digital finance and an indication of a larger effort to strengthen technology-driven bilateral ties, India has formally extended its Unified Payments Interface (UPI) to Israel.
The announcement was made during Prime Minister Narendra Modi's visit to Israel from February 25 to 26 on the invitation of Israeli Prime Minister Benjamin Netanyahu. Both sides agreed to explore linking UPI with Israel’s fast payment system to enhance interoperability and strengthen economic ties.
The implementation of UPI in Israel is expected to facilitate easy digital payments for individuals and companies in both nations, boosting investment, trade, and tourism, and strengthening India's fintech presence on a global platform.
In addition, this payment system integration will be advantageous to Indian tourists, non-resident Indians (NRIs), businesspeople, professionals, and students.
According to an International Monetary Fund (IMF) note in 2025, India has emerged as the global leader in fast payments over the years, with UPI being at the heart of this transformation. UPI processes over 18 billion transactions every month in India.
In June 2025 alone, it handled over Rs 24.03 lakh crore in payments. This was spread across 18.39 billion transactions. Compared to the same month in 2024, when there were 13.88 billion transactions.
This shift has taken India away from cash and card-based payments and pushed it towards a digital-first economy. Millions of individuals and small businesses now rely on UPI for safe and low-cost transactions. By making payments quick and accessible, UPI has become a powerful tool for financial inclusion.
Moreover, the UPI system now serves 491 million individuals and 65 million merchants. It connects 675 banks on a single platform, allowing people to make payments easily without worrying about which bank they use. Today, UPI accounts for 85 per cent of all digital transactions in India. Its impact goes beyond national borders, powering nearly 50 per cent of global real-time digital payments.
Launched in 2016 by the National Payments Corporation of India, UPI has changed how people send and receive money in the country.
