National Payments Corporation of India’s Unified Payments Interface (UPI) may soon go global and become the favourite of United Arab Emirates (UAE) and Singapore.
These two countries have already opened their gates to India’s RuPay cards. And now UPI payment services is most likely to be a part of their payments ecosystem.
Both the nations have a significant population of Indian expatriates. The introduction of the UPI may also prove to be big support for Indians travelling to these countries.
“These two countries already have opened up to RuPay cards; now the target is to enable UPI payments. This will be a big boost for Indians travelling in those countries and, just like their debit card or credit card, they can pay via UPI,” said a senior banked, quoted by the Economic Times.
The expansion of UPI to Singapore and UAE has come into light after Nandan Nilekani-led committee on digital payments suggested that NCPI should broaden its payment services like UPI, RuPay and BHIM to other countries as well.
UPI, which has more than 141 banks on board as of now.
