Prime Minister Narendra Modi to launch UPI services in Sri Lanka and Mauritius

9 months ago 12

India's digital payments service Unified Payment Interface (UPI) has been going global.

Prime Minister Narendra Modi

will launch the country's

UPI services in Sri Lanka and Mauritius

today (February 12). The

UPI services

will be rolled out in Sri Lanka and Mauritius at a virtual ceremony that will be witnessed by Prime Minister Narendra Modi and the top leadership of the two island nations. Mauritian PM Pravind Jugnauth and Sri Lanka's President Ranil Wickremesinghe will join Modi at the virtual ceremony, according to the Ministry of External Affairs (MEA).
"Prime Minister Narendra Modi, President of Sri Lanka Ranil Wickremesinghe and Prime Minister of Mauritius Pravind Jugnauth will witness the launch of Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, and also RuPay card services in Mauritius on February 12 at 1 PM via video conferencing," it said.
India's RuPay card services would also be launched in Mauritius at the event
Developed by the National Payments Corporation of India (NPCI), UPI is an instant real-time payment system to facilitate inter-bank transactions through mobile phones. RuPay is a global card payment network from India, with wide acceptance at shops, ATMs, and online.

"India has emerged as a leader in Fintech innovation and Digital Public Infrastructure. The prime minister has placed a strong emphasis on sharing our development experiences and innovation with partner countries," the MEA said in a statement.
This initiative signifies India's growing role in Fintech innovation and its commitment to sharing its advancements with partner nations. It is expected to benefit both parties by:

Simplifying payments for travellers: Both Indian and Mauritian nationals visiting each other's countries can now leverage UPI for seamless digital transactions.
Expanding payment options: Mauritian banks can issue RuPay cards, allowing cardholders to make secure payments in both India and Mauritius.
Strengthening digital ties: This collaboration fosters closer digital connectivity between the three nations.

Article From: timesofindia.indiatimes.com

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