India Launches UPI Services and RuPay Cards in Sri Lanka and Mauritius
By siliconindia | Monday, 12 February 2024, 02:28:52 PM IST
In a significant move, India has successfully introduced its Unified Payment Interface (UPI) services in Sri Lanka and Mauritius. The inauguration ceremony, attended virtually by Prime Minister Narendra Modi, included the launch of RuPay card services in Mauritius.
This initiative allows Indians visiting Sri Lanka and Mauritius to utilize UPI services for seamless payments, while Mauritian travelers to India can also benefit from this digital payment system. Furthermore, Mauritian banks can issue RuPay cards, facilitating transactions both in India and Mauritius.
The launch ceremony saw the participation of Indian Prime Minister Narendra Modi, Mauritian Prime Minister Pravind Jugnauth, and Sri Lankan President Ranil Wickremesinghe. The move signifies the strengthening of bilateral economic ties between India and the two nations.
Developed by the National Payments Corporation of India (NPCI), UPI services enable immediate real-time bank transactions through mobile phones. RuPay, an Indian-based card payment network, is widely accepted globally at retail locations, ATMs, and online platforms. This expansion follows the collaboration between NPCI International Payments Limited (NIPL) and Lyra, a prominent French expert in e-commerce and proximity payments, to introduce UPI services in France.
Read More News :