Bharat’s Unified Payments Interface (UPI) services were officially launched in Sri Lanka and Mauritius, a week after in France.
Prime Minister Narendra Modi, alongside his Mauritian counterpart Pravind Jugnauth and Sri Lankan President Ranil Wickremesinghe attended the launch event virtually.
Notably, UPI services in these countries will make easier and faster digital transactions for Bharatiya nationals travelling to Sri Lanka and Mauritius.
Additionally, Mauritians visiting Bharat will also be able to utilize UPI for their payments.
In conjunction with UPI, RuPay card services were also introduced in Mauritius which enables Mauritian banks to issue RuPay cards which could be used for settlements in both Bharat and Mauritius.
“Given Bharat’s cultural and people-to-people linkages with Sri Lanka and Mauritius, the launch will benefit a wide cross-section of people and will enhance digital connectivity between the countries,” the government said.
This expansion marks an important milestone for the Bharatiya digital payment system, which was developed by the National Payments Corporation of India (NPCI).
UPI began its journey in Bharat with a pilot launch on April 11, 2016, and has since evolved into a system which includes multiple bank accounts into a single mobile application.
“Bharat has emerged as a leader in Fintech innovation and Digital Public Infrastructure. Prime Minister has placed a strong focus on sharing our development experiences and innovation with partner countries,” the government has said.
This initiative is part of Bharat’s vision to share its fintech innovation and digital public infrastructure with partner countries.
The government has emphasized Bharat’s emergence as a leader in fintech innovation, and the extension of UPI services on the global level is a testament to this progress.
Earlier, NPCI International Payments Limited (NIPL) joined forces with Lyra, a renowned French expert in e-commerce and proximity payments.
This collaboration marked a good achievement, with the iconic Eiffel Tower becoming the first merchant in the country to accept UPI payments.
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