Discover the latest buzz as Unified Payment Interface (UPI) services make their grand debut in Sri Lanka and Mauritius! Join the digital payment revolution and explore how this expansion is set to transform cross-border transactions. Get all the exciting details here!
Expansion of Unified Payment Interface (UPI)
The Ministry of External Affairs recently announced the launch of Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, set to commence on February 12. Additionally, Mauritius will also introduce RuPay card services.
Key Figures to Attend Launch
Prime Minister Narendra Modi, Sri Lankan President Ranil Wickremesinghe, and Mauritian Prime Minister Pravind Jugnauth are slated to participate in the launch event via video conference. This move underscores the significance of digital payment expansion across borders.
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Benefits for Travelers and Tourists
The introduction of Unified Payment Interface services in Colombo and Port Louis will streamline digital payments for Indian nationals traveling to these countries and vice versa for tourists visiting India. This initiative aims to enhance convenience and accessibility for a wide range of users, offering faster and more seamless transactions.
The Ministry of External Affairs highlighted that the launch will bolster digital connectivity between all three nations. By facilitating digital transactions, this initiative strengthens ties and fosters greater economic cooperation among the nations involved.
RuPay Card Expansion
Moreover, the extension of RuPay card services in Port Louis marks a significant step towards enhancing financial inclusion. Mauritian banks will now have the capability to issue RuPay cards, allowing for seamless transactions between both nations.
(IMAGE CREDITS-Getty)
Before this, NPCI International Payments Limited (NIPL) collaborated with Lyra, a renowned French expert in e-commerce and proximity payments, to introduce the Payments Interface services in France. This partnership led to a groundbreaking development, with the Eiffel Tower becoming the first merchant in France to accept Unified Payments Interface, simplifying transactions for Indian tourists.
The expansion of UPI services to two more nations along with the introduction of RuPay card services, represents a significant stride towards fostering digital payment ecosystems beyond Indian borders. These initiatives not only enhance convenience for travelers and tourists but also strengthen economic ties and digital connectivity between nations.
Bhaarat Bulletin’s Neelima Gauri and the Prime Minister of India’s official website have contributed to the above report