Indian Govt and RBI Discuss Linking Alipay+ with UPI to Boost Digital Payments

Reportedly, talks are underway between UPI and Ant International's Alipay+, a cross-border digital payment system, to facilitate UPI's continued international expansion by the Indian government and the Reserve Bank of India (RBI). Tourists from India would be able to use UPI with Alipay+-registered merchants abroad thanks to this programme.

Operations of Ant International and Alipay+

Separated from China's Ant Group in 2024, Ant International is now a fintech firm based in Singapore. Digital commerce, financial services, and cross-border payment technologies are Ant International's main areas of interest. Its reach extends throughout the Americas, Europe, Asia, and China. The company's Alipay+ service allows customers to make international payments using a single wallet. With an estimated 1.8 billion users and 150 million merchants, it boasts of connecting users all over the world with merchants.

Expanding International Network of UPI

A Singaporean firm is not the first to be integrated with UPI. With the help of HitPay, a full-stack payments infrastructure company, NPCI was able to launch UPI in Singapore last year. With the help of this collaboration, Indian tourists visiting Singapore will be able to pay at participating businesses using QR codes. To facilitate international money transfers, UPI teamed up with PayNow of Singapore in 2023.

With the possible alliance with Ant International, UPI is now targeting a wider merchant network for expansion. On a national level, UPI transactions reached a new record high in January, totalling 21.7 Bn. In addition, for the fiscal year 2026–27, the government has set aside INR 2,000 Cr as part of the incentive programme to promote RuPay debit cards and BHIM-UPI transactions with a value of up to INR 2,000.

UPI’s Performance in the Year 2025

According to the most recent data released by the National Payments Corporation of India (NPCI), the UPI platform achieved new heights in 2025. UPI hit a record-breaking volume and value of transactions in December. In 2025, the platform also recorded the most transactions ever in a year. In 2025, UPI handled 228 billion transactions, totalling INR 300 trillion. The result is an increase of 33% over 2024 and an increase of 21% over 2024 in terms of value. With a 29% increase in volume and a 20% increase in value year-on-year, the platform handled a record 21.6 billion transactions in December 2025, with a total value of INR 30 trillion.

On a daily basis, it processed 698 million transactions, with a total value of INR 90,217 crore, during the month. The experts noted that UPI has become the default means of payment throughout metros and smaller towns. This persistent increase in monthly transactions shows this structural change in consumer behaviour.