India’s digital payment system Unified Payment Interface (UPI) is expanding its services to Sri Lanka and Mauritius as well as launching the indigenous payment card RuPay in Mauritius, on February 12 at 1300 hours (IST) via video conferencing, stated External Affairs Ministry on Sunday.
The launch aims to benefit a wide cross-section of people through a faster and seamless digital transaction experience and enhance digital connectivity between the countries.
Earlier this month, UPI was launched at the Eiffel Tower in Paris to encourage digital payments and foster stronger ties between countries as well as to ease the transaction for Indian tourists.
Indian Prime Minister Narendra Modi along with President of Sri Lanka Ranil Wickremesinghe and Pravind Jugnauth, Prime Minister of Mauritius will witness the virtual conference, said the Ministry.
The launch will enable availability of UPI settlement services for tourists who visit Sri Lanka and Mauritius and visa-versa, said the government agency. Additionally, the extension of RuPay card services in Mauritius will enable Mauritian banks to issue cards based on RuPay mechanism in Mauritius and facilitate the usage of RuPay Card for both India and Mauritius.
Developed by the National Payments Corporation of India (NPCI), UPI is a mobile application that allows users to transfer money between bank accounts which eliminates the need to enter bank details each time a person initiates the transaction.
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