Digital Payments are Now Part of the Infrastructure... In India, online commerce isn’t just growing, it’s growing at an extraordinary scale. India’s Unified Payments Interface (UPI) processed more than 241 billion transactions worth approximately ₹314 trillion in FY2025–26, with transaction volume growing another 30% year over year. UPI now accounts for approximately 84% of India’s digital-payment transactions, with more than 700 banks participating in the system.^1,2 That means connectivity has become increasingly intertwined with everyday commerce.