UPI on the international stage: In a groundbreaking move, India’s Unified Payments Interface (UPI) is now spreading its wings beyond the nation’s borders, allowing Indians to make digital payments in seven countries. This expansion marks a significant milestone in the global adoption of UPI, reinforcing India’s position as a trailblazer in modern digital payment technologies.
List of Countries Where UPI Can Be Used
Following its successful launch in Sri Lanka and Mauritius, UPI has extended its reach to France, UAE, Singapore, Bhutan, and Nepal. The recent announcement by MyGovIndia has put these countries on the map, illustrating the growing influence of India’s UPI on the international stage.
France has embraced UPI with open arms, with the iconic Eiffel Tower becoming the first merchant to accept UPI payments. This move is set to expand to other merchants in the tourism and retail sectors across France and Europe. The announcement was made during an event organized by the Indian Embassy in France to celebrate India’s Republic Day.
NPCI International Payments Ltd (NIPL) partnered with Mashreq, a leading financial institution in the UAE, to facilitate UPI acceptance in August 2021. This strategic collaboration aims to provide seamless digital payment options to the Indian diaspora and local residents in the UAE.
Bhutan took the lead in 2021 by becoming the first country to adopt UPI. Meanwhile, Nepal followed suit in February 2022, deploying UPI as a payment platform outside India. These developments highlight the adaptability and convenience of UPI in diverse global settings.
The introduction of UPI in Sri Lanka and Mauritius has strengthened the ties between these nations and India. Prime Minister Narendra Modi emphasized the historic significance of this move, envisioning closer relations and mutual growth through modern digital technologies.
The Evolution of UPI
In just a few years, India’s Unified Payments Interface (UPI) has evolved into a game-changer, revolutionizing the country’s digital payment scene. UPI, launched in 2016 by the National Payments Corporation of India (NPCI), has become synonymous with instant, secure, and hassle-free transactions.
Connecting over 300 banks and seamlessly integrating with popular third-party applications like Google Pay, Amazon Pay, PhonePe, and Paytm, UPI has simplified financial interactions for millions of users. Its success in India has prompted an ambitious expansion globally, with recent launches in Sri Lanka, Mauritius, France, UAE, Singapore, Bhutan, and Nepal.
The UPI story is not just about transactions; it’s about transforming the way people perceive and engage with digital payments. Its user-centric design, 24/7 accessibility, and robust security features have made it a preferred choice for individuals and businesses alike.
Future Prospects of UPI
As UPI continues to make inroads globally, NIPL has signed an agreement with Liquid Group to enable QR based UPI payments in 10 countries including Malaysia, Thailand, Philippines, Vietnam, Singapore, UAE, Cambodia, South Korea, Japan, Taiwan and Hong Kong. demonstrate the platform’s potential for further expansion. The vision of a borderless, interconnected digital payment ecosystem is gradually becoming a reality, with UPI at its forefront.
Conclusion
India’s UPI has embarked on a remarkable journey, transcending national boundaries and leaving an indelible mark on the global digital payment landscape. The acceptance of UPI in multiple countries underscores its efficacy, convenience, and the vision of a more interconnected world through seamless financial transactions.
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